Senate

Clean Energy Legislation (Carbon Tax Repeal) Bill 2014

True-up Shortfall Levy (General) (Carbon Tax Repeal) Bill 2014

True-up Shortfall Levy (General) (Carbon Tax Repeal) Act 2014

True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Bill 2014

True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Act 2014

Customs Tariff Amendment (Carbon Tax Repeal) Bill 2014

Customs Tariff Amendment (Carbon Tax Repeal) Act 2014

Excise Tariff Amendment (Carbon Tax Repeal) Bill 2014

Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment (Carbon Tax Repeal) Bill 2014

Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment (Carbon Tax Repeal) Act 2014

Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment (Carbon Tax Repeal) Bill 2014

Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment (Carbon Tax Repeal) Act 2014

Revised Explanatory Memorandum

(Circulated by the authority of the Minister for the Environment, the Hon Greg Hunt MP and the Treasurer, the Hon J.B. Hockey MP)
THIS MEMORANDUM TAKES ACCOUNT OF AMENDMENTS MADE BY THE HOUSE OF REPRESENTATIVES TO THE BILLS AS INTRODUCED

Glossary

The following abbreviations and acronyms are used throughout this explanatory memorandum.

Abbreviation Definition
2013 Carbon Tax Repeal Bills Clean Energy Legislation (Carbon Tax Repeal) Bill 2013
True-up Shortfall Levy (General) (Carbon Tax Repeal) Bill 2013
True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Bill 2013
Customs Tariff Amendment (Carbon Tax Repeal) Bill 2013
Excise Tariff Amendment (Carbon Tax Repeal) Bill 2013
Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment (Carbon Tax Repeal) Bill 2013
Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment (Carbon Tax Repeal) Bill 2013
ACCC Australian Competition & Consumer Commission
ACCU Australian carbon credit unit
ACL Australian Consumer Law
ANREU Act Australian National Registry of Emissions Units Act 2011
Anti-Money Laundering Act Anti-Money Laundering and Counter Terrorism Financing Act 2006
ARENA Australian Renewable Energy Agency
ARENA Act Australian Renewable Energy Agency Act 2011
ASIC Australian Securities & Investments Commission
ASIC Act Australian Securities and Investments Commission Act 2001
ATO Australian Taxation Office
Carbon Tax Repeal Bills Clean Energy Legislation (Carbon Tax Repeal) Bill 2014
True-up Shortfall Levy (General) (Carbon Tax Repeal) Bill 2014
True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Bill 2014
Customs Tariff Amendment (Carbon Tax Repeal) Bill 2014
Excise Tariff Amendment (Carbon Tax Repeal) Bill 2014
Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment (Carbon Tax Repeal) Bill 2014
Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment (Carbon Tax Repeal) Bill 2014
CC Act Competition and Consumer Act 2010
CCA Climate Change Authority
CCA Act Climate Change Authority Act 2011
CE Act Clean Energy Act 2011
CE Regulations Clean Energy Regulations 2011
CE Charges Acts Clean Energy (Unit Shortfall Charge - General) Act 2011;
Clean Energy (Unit Issue Charges - Fixed Charge) Act 2011;
Clean Energy (Unit Issue Charges - Auctions) Act 2011;
Clean Energy (Charges-Excise) Act 2011; and
Clean Energy (Charges-Customs) Act 2011.
Clean Energy Legislation Clean Energy Act 2011;
Clean Energy Regulator Act 2011;
Climate Change Authority Act 2011;
Clean Energy (Consequential Amendments) Act 2011;
Clean Energy (Unit Shortfall Charge - General) Act 2011;
Clean Energy (Unit Issue Charges - Fixed Charge) Act 2011;
Clean Energy (Unit Issue Charges - Auctions) Act 2011;
Clean Energy (Charges-Excise) Act 2011;
Clean Energy (Charges-Customs) Act 2011;
Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment Act 2011;
Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment Act 2011;
Clean Energy (Customs Tariff Amendment) Act 2011;
Clean Energy (Excise Tariff Legislation Amendment) Act 2011;
Clean Energy (Fuel Tax Legislation Amendment) Act 2011;
Clean Energy (Household Assistance Amendments) Act 2011;
Clean Energy (Income Tax Rates Amendments) Act 2011;
Clean Energy (Tax Laws Amendments) Act 2011;
Clean Energy Legislation Amendment Act 2012; and
Clean Energy Amendment (International Emissions Trading and Other Measures) Act 2012.
Corporations Act Corporations Act 2001
Customs Australian Customs & Border Protection Service
Customs Amendment Bill Customs Tariff Amendment (Carbon Tax Repeal) Bill 2014
Excise Amendment Bill Excise Tariff Amendment (Carbon Tax Repeal) Bill 2014
Fuel Tax Act Fuel Tax Act 2006
FTCs Fuel tax credits
GST Goods & services tax
GST Act A New Tax System (Goods and Services Tax) Act 1999
ITAA 1997 Income Tax Assessment Act 1997
JCP Jobs & Competitiveness Program
Main Repeal Bill Clean Energy Legislation (Carbon Tax Repeal) Bill 2014
NGERS National Greenhouse & Energy Reporting Scheme
NGER Act National Greenhouse and Energy Reporting Act 2007
Opt-in scheme The Opt-in scheme allows a person to apply to have the potential emissions embodied in the liquid fuel that they use directly covered by the carbon tax, rather than paying an equivalent carbon price through the fuel tax credits system, or through excise or excise equivalent customs duty.
Ozone Manufacture Amendment Bill Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment (Carbon Tax Repeal) Bill 2014
Ozone Import Amendment Bill Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Amendment (Carbon Tax Repeal) Bill 2014
Ozone Management Act Ozone Protection and Synthetic Greenhouse Gas Management Act 1989
Ozone (Import Levy) Act Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Act 1995
Ozone (Manufacture Levy) Act Ozone Protection and Synthetic Greenhouse Gas (Manufacture Levy) Act 1995
PRRTA Act Petroleum Resource Rent Tax Assessment Act 1987
Registry Australian National Registry of Emissions Units
Regulator Clean Energy Regulator
Regulator Act Clean Energy Regulator Act 2011
SGG Synthetic greenhouse gas
STP Steel Transformation Plan
STP Act Steel Transformation Plan Act 2011
TAA 1953 Taxation Administration Act 1953
Tax Commissioner Commissioner of Taxation
True-up Shortfall Levy Bills True-up Shortfall Levy (General) (Carbon Tax Repeal) Bill 2014; and
True-up Shortfall Levy (Excise) (Carbon Tax Repeal) Bill 2014.