Clean Energy (Excise Tariff Legislation Amendment) Act 2011 (156 of 2011)
Schedule 1 Aircraft fuel
Excise Tariff Act 1921
2 After section 6E
Insert:
6FA Changes in rate of duty on gasoline for use as fuel in aircraft
(1) This Act has effect as if, on each day (the substitution day ) that is one of the following days, the rate (the replacement rate ) of duty worked out under subsection (2) for the substitution day were substituted for the rate of duty in subitem 10.6 of the Schedule:
(a) 1 July in 2013 and each later year;
(b) 1 January in 2016 and each later year.
Replacement rate
(2) The replacement rate is the sum of:
(a) $0.03556 per litre; and
(b) the rate (the carbon component rate ) worked out for the substitution day using the table.
|
Carbon component rate |
||
|
Substitution day |
Carbon component rate |
|
|
1 |
1 July 2013 |
$0.05313 per litre |
|
2 |
1 July 2014 |
$0.05588 per litre |
|
3 |
1 July in 2015 or a later year or 1 January in 2016 or a later year |
The amount that is: (a) worked out for the substitution day using the formula in subsection (3); and (b) rounded to 5 decimal places (rounding up if the sixth decimal place is 5 or more); per litre |
(3) The formula is:
Average carbon unit auction price for the substitution day x 0.0022
Note: Average carbon unit auction price is defined in subsection 3(1).
Application of replacement rate
(4) The replacement rate applies to gasoline that is entered for home consumption on or after the substitution day (but before the next substitution day) and is for use as fuel in aircraft.
6FB Changes in rate of duty on kerosene for use as fuel in aircraft
(1) This Act has effect as if, on each day (the substitution day ) that is one of the following days, the rate (the replacement rate ) of duty worked out under subsection (2) for the substitution day were substituted for the rate of duty in subitem 10.17 of the Schedule:
(a) 1 July in 2013 and each later year;
(b) 1 January in 2016 and each later year.
Replacement rate
(2) The replacement rate is the sum of:
(a) $0.03556 per litre; and
(b) the rate (the carbon component rate ) worked out for the substitution day using the table.
|
Carbon component rate |
||
|
Substitution day |
Carbon component rate |
|
|
1 |
1 July 2013 |
$0.06279 a litre |
|
2 |
1 July 2014 |
$0.06604 a litre |
|
3 |
1 July in 2015 or a later year or 1 January in 2016 or a later year |
The amount that is: (a) worked out for the substitution day using the formula in subsection (3); and (b) rounded to 5 decimal places (rounding up if the sixth decimal place is 5 or more); per litre |
(3) The formula is:
Average carbon unit auction price for the substitution day x 0.0026
Note: Average carbon unit auction price is defined in subsection 3(1).
Application of replacement rate
(4) The replacement rate applies to kerosene that is entered for home consumption on or after the substitution day (but before the next substitution day) and is for use as fuel in aircraft.
6FC Publication of replacement rates for aircraft fuel
(1) The CEO must, on or as soon as practicable after each substitution day mentioned in sections 6FA and 6FB, publish for the information of the public a notice in the Gazette setting out:
(a) each replacement rate mentioned in those sections for that day; and
(b) the goods to which each replacement rate applies.
(2) The CEO must ensure that a copy of a notice under subsection (1) is available on the website of the Australian Taxation Office.