Customs Tariff Act 1995

PART 2 - DUTIES OF CUSTOMS  

SECTION 19AAA   ROUNDING OF FUEL DUTY RATES  

19AAA(1)    
Despite subsection 19(2) , the amount to be worked out under subsection 19(1) in respect of an indexation day for a CPI indexed rate that is a fuel duty rate is to be rounded to 3 decimal places (rounding up if the next decimal place is 5 or more).

19AAA(2)    
For the purposes of section 19 , determine the CPI indexed rate on the day before the indexation day as mentioned in subsection 19(1) on the assumptions that:

(a) the operation of subsection (1) of this section was disregarded in respect of all previous indexation days (if any); and

(b) subsection 19(2) provided for amounts worked out under subsection 19(1) in respect of those indexation days to be rounded to 5 decimal places (rounding up if the next decimal place was 5 or more).

19AAA(3)    
In this section:

CPI indexed rate
has the same meaning as in section 19 .

indexation day
has the same meaning as in section 19 .

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History

S 19AAA inserted by No 100 of 2015, s 3 and Sch 1 item 10, applicable in relation to: (a) goods imported into Australia on or after 31 January 2015; and (b) goods imported into Australia before 31 January 2015, where the time for working out the rate of import duty on the goods had not occurred before 31 January 2015.

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