2008-2009 The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES Presented and read a first time Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 No. , 2009 (Treasury) A Bill for an Act to deal with consequential matters arising from the enactment of the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009, and for other purposes [Page Break] 1 Short title ........................................................................................... 1 2 Commencement ................................................................................. 1 3 Schedule(s) ........................................................................................ 2 Schedule 1--Amendments 3 Fuel Tax Act 2006 3 Income Tax Assessment Act 1997 5 Taxation Administration Act 1953 5 i Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 No. , 2009 [Page Break] 2 arising from the enactment of the Carbon Pollution 3 Reduction Scheme (CPRS Fuel Credits) Act 2009, 4 and for other purposes 5 The Parliament of Australia enacts: 6 1 Short title 7 This Act may be cited as the Carbon Pollution Reduction Scheme 8 (CPRS Fuel Credits) (Consequential Amendments) Act 2009. 9 2 Commencement 10 (1) Each provision of this Act specified in column 1 of the table 11 commences, or is taken to have commenced, in accordance with 12 column 2 of the table. Any other statement in column 2 has effect 13 according to its terms. Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 No. , 2009 1 [Page Break] Commencement information Column 1 Column 2 Column 3 Provision(s) Commencement Date/Details 1. Sections 1 to 3 The day on which this Act receives the and anything in Royal Assent. this Act not elsewhere covered by this table 2. Schedule 1 At the same time as section 2-1 of the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 commences. 2 Note: This table relates only to the provisions of this Act as originally 3 passed by both Houses of the Parliament and assented to. It will not be 4 expanded to deal with provisions inserted in this Act after assent. 5 (2) Column 3 of the table contains additional information that is not 6 part of this Act. Information in this column may be added to or 7 edited in any published version of this Act. 8 3 Schedule(s) 9 Each Act that is specified in a Schedule to this Act is amended or 10 repealed as set out in the applicable items in the Schedule 11 concerned, and any other item in a Schedule to this Act has effect 12 according to its terms. 13 2 Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 No. , 2009 [Page Break] 1 Schedule 1--Amendments 2 3 Fuel Tax Act 2006 4 1 At the end of section 2-1 5 Add: 6 This Act also deals with certain aspects of CPRS fuel credits. 7 2 Subsection 43-5(3) 8 After "following grants", insert "and subsidies". 9 3 At the end of subsection 43-5(3) 10 Add: 11 ; or (e) a *CPRS fuel credit. 12 4 Subsection 60-5 (formula) 13 Repeal the formula, substitute: Sum of Sum of total Sum of total total fuel increasing fuel tax decreasing fuel tax 14 Total - tax credits + adjustments and - adjustments and fuel tax and total total increasing total decreasing CPRS fuel CPRS fuel credit CPRS fuel credit credits adjustments adjustments 15 5 Subsection 60-5(1) 16 Insert: 17 total CPRS fuel credits is the sum of all *CPRS fuel credits to 18 which you are entitled that are attributable to the period. 19 Note: Division 10 of the Carbon Pollution Reduction Scheme (CPRS Fuel 20 Credits) Act 2009 sets out which tax periods or fuel tax return periods 21 CPRS fuel credit adjustments are attributable to. 22 6 Subsection 60-5(1) 23 Insert: 24 total decreasing CPRS fuel credit adjustments is the sum of all 25 *decreasing CPRS fuel credit adjustments that are attributable to 26 the period. Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 No. , 2009 3 [Page Break] 1 Note: Division 10 of the Carbon Pollution Reduction Scheme (CPRS Fuel 2 Credits) Act 2009 sets out which tax periods or fuel tax return periods 3 CPRS fuel credit adjustments are attributable to. 4 7 Subsection 60-5(1) 5 Insert: 6 total increasing CPRS fuel credit adjustments is the sum of all 7 *increasing CPRS fuel credit adjustments that are attributable to the 8 period. 9 Note: Division 10 of the Carbon Pollution Reduction Scheme (CPRS Fuel 10 Credits) Act 2009 sets out which tax periods or fuel tax return periods 11 CPRS fuel credit adjustments are attributable to. 12 8 Section 70-1 13 Omit "This Act", substitute "The fuel tax law". 14 9 Paragraphs 75-10(2)(a) and (b) 15 After "this Act", insert "or the Carbon Pollution Reduction Scheme 16 (CPRS Fuel Credits) Act 2009". 17 10 At the end of paragraph 75-15(1)(c) 18 Add: 19 (vi) the Carbon Pollution Reduction Scheme (CPRS Fuel 20 Credits) Act 2009; 21 11 Paragraph 75-15(1)(f) 22 After "this Act", insert "or the Carbon Pollution Reduction Scheme 23 (CPRS Fuel Credits) Act 2009". 24 12 At the end of section 75-50 25 Omit all the words from and including "despite" to the end of the 26 section, substitute: 27 despite: 28 (a) the provisions of this Act outside that Division; and 29 (b) this Division; and 30 (c) the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) 31 Act 2009. 32 13 Section 110-5 4 Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 No. , 2009 [Page Break] 1 Insert: 2 CPRS fuel credit has the same meaning as in the Carbon Pollution 3 Reduction Scheme (CPRS Fuel Credits) Act 2009. 4 14 Section 110-5 5 Insert: 6 decreasing CPRS fuel credit adjustment has the same meaning as 7 in the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) 8 Act 2009. 9 15 Section 110-5 (after paragraph (b) of the definition of fuel 10 tax law) 11 Insert: 12 (ba) the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) 13 Act 2009; and 14 16 Section 110-5 (paragraph (c) of the definition of fuel tax 15 law) 16 Omit "and (b)", substitute "to (ba)". 17 17 Section 110-5 18 Insert: 19 increasing CPRS fuel credit adjustment has the same meaning as 20 in the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) 21 Act 2009. 22 Income Tax Assessment Act 1997 23 18 Subsection 995-1(1) 24 Insert: 25 CPRS fuel credit has the same meaning as in the Carbon Pollution 26 Reduction Scheme (CPRS Fuel Credits) Act 2009. 27 Taxation Administration Act 1953 28 19 Paragraph 105-55(2)(b) in the Schedule Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 No. , 2009 5 [Page Break] 1 Omit "or *fuel tax credit", substitute ", *fuel tax credit or *CPRS fuel 2 credit". 3 20 Subsection 105-55(3) in the Schedule 4 Omit "or *fuel tax credit", substitute ", *fuel tax credit or *CPRS fuel 5 credit". 6 21 Paragraph 105-55(3)(c) in the Schedule 7 Omit "fuel tax credit", substitute "fuel tax credit or CPRS fuel credit". 8 22 At the end of subsection 105-55(4) in the Schedule 9 Add: 10 ; or (c) a *CPRS fuel credit for fuel that you acquire, manufacture, 11 import, supply, or apply to your own use. 12 23 After subsection 105-55(4) in the Schedule 13 Insert: 14 (4A) For the purposes of paragraph (4)(c), fuel and supply have the 15 same respective meanings as in the Carbon Pollution Reduction 16 Scheme (CPRS Fuel Credits) Act 2009. 17 24 Subsection 105-55(5) in the Schedule 18 After "*fuel tax credit", insert "or *CPRS fuel credit". 19 25 After paragraph 382-5(2)(h) in the Schedule 20 Insert: 21 (ha) if you are entitled to a *CPRS fuel credit for fuel that you 22 acquire, manufacture, import, supply, or apply to your own 23 use--the acquisition, manufacture, importation, supply, or 24 application to own use; or 25 26 At the end of paragraph 382-5(3)(b) in the Schedule 26 Add "or". 27 27 After paragraph 382-5(3)(b) in the Schedule 28 Insert: 6 Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 No. , 2009 [Page Break] 1 (ba) a *CPRS fuel credit that is attributable to a tax period or fuel 2 tax return period under subsection 10-5(5) of the Carbon 3 Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009; 4 28 Paragraph 382-5(3)(c) in the Schedule 5 Omit "or importation", substitute ", manufacture, importation, supply, 6 or application to own use". 7 29 After subsection 382-5(3) in the Schedule 8 Insert: 9 (3A) For the purposes of paragraphs (2)(h) and (3)(c), fuel and supply 10 have the same respective meanings as in the Carbon Pollution 11 Reduction Scheme (CPRS Fuel Credits) Act 2009. 12 Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 No. , 2009 7