EXCISE TARIFF ACT 1921

SECTION 6FAA   Change in duty rate of certain liquefied petroleum gases, liquefied natural gases and compressed natural gases  

6FAA(1)  
This Act has effect as if, on 1 July 2015:


(a) the rate of duty in subitem 10.19A of the Schedule is replaced by:


(i) $0.126 per litre; or

(ii) if the indexed rate worked out under subsection (2) is greater than $0.126 per litre - that indexed rate; and


(b) the rate of duty in subitem 10.19B of the Schedule is replaced by:


(i) $0.2644 per kilogram; or

(ii) if the indexed rate worked out under subsection (2) is greater than $0.2644 per kilogram - that indexed rate; and


(c) the rate of duty in subitem 10.19C of the Schedule is replaced by:


(i) $0.2644 per kilogram; or

(ii) if the indexed rate worked out under subsection (2) is greater than $0.2644 per kilogram - that indexed rate.

6FAA(2)  
To work out the indexed rate, index the rate mentioned in paragraph (1)(a), (b) or (c) (as applicable) on 1 February 2015 under section 6A , on the assumptions that:


(a) the rate is a CPI indexed rate for the purposes of that section; and


(b) the amount of that rate on the day before 1 February 2015 is the amount set out in subparagraph (1)(a)(i), (b)(i) or (c)(i) (as applicable).


 

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