Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) In this section, unless the contrary intention appears:
"indexation period" means the 6 month period starting on 1 February 1984 and each subsequent 6 month period.
"relevant rate means a rate of duty (other than the rate free" ) specified in an item or subitem of the Schedule other than item 20.
(1A) For the indexation period that commences on 1 August 2001 and any subsequent indexation period, this section does not apply to:
(a) a rate of duty specified in item 10 of the Schedule; or
(b) an excise tariff alteration that proposes to alter a rate specified in item 10 of the Schedule.
(1B) For the indexation period that commences on 1 February 2003 and any subsequent indexation period, this section does not apply to:
(a) a rate of duty specified in item 15 of the Schedule; or
(b) an excise tariff alteration that proposes to alter a rate specified in item 15 of the Schedule.
(2) Subject to subsection (3), if at any time, whether before or after the commencement of this section, the Statistician has published or publishes an index number in respect of a quarter in substitution for an index number previously published by him or her in respect of that quarter, the publication of the later index number shall be disregarded for the purposes of this section.
(3) If at any time, whether before or after the commencement of this section, the Statistician has changed or changes the reference base for the consumer price index, then, for the purposes of the application of this section after the change took place or takes place, regard shall be had only to index numbers published in terms of the new reference base.
(4) If the factor worked out in relation to an indexation period in accordance with subsection (5) is more than 1, this Act has effect as if, on the first day of the period, there were substituted for each relevant rate a rate of duty worked out using the formula:
where:
"relevant rate" means the rate of duty as defined in subsection (1) or if, by previous operation of this section, this Act has effect as if another rate were substituted, the last substituted rate.
"factor" means the factor worked out in relation to that period under subsection (5).
(4A) If the rate of duty worked out under subsection (4) in respect of an item or subitem of the Schedule (the prescribed rate ) has more decimal places than the number of decimal places in the relevant rate, the prescribed rate is to be rounded in accordance with subsections (4B) and (4C).
(4B) If the prescribed rate worked out to one more decimal place than the relevant rate would end in a number less than 5, the rate worked out under subsection (4) is taken to be a rate of duty equal to the prescribed rate worked out to the same number of decimal places as the relevant rate.
(4C) If the prescribed rate worked out to one more decimal place than the relevant rate would end in 5 or a greater number, the rate of duty worked out under subsection (4) is taken to be a rate of duty equal to the prescribed rate worked out to the same number of decimal places as the relevant rate increased by:
(a) if the number of decimal places in the relevant rate is
2--0.01; or
(b) if the number of decimal places in the relevant rate is
3--0.001;
or
(c) if the number of decimal places in the relevant rate is
4--0.0001;
or
(d) if the number of decimal places in the relevant rate is
5--0.00001.
(4D) If an excise tariff alteration proposed in the Parliament proposes to alter, on and from a particular day, an item or subitem of the Schedule by substituting a rate for the relevant rate, then, for the purposes of the application of subsection (4) in relation to that relevant rate, the references in subsection (4) and in subsections (4A), (4B) and (4C) to the relevant rate are to be read, on and after that day, as references to the rate proposed by that alteration to be substituted for the relevant rate.
(5) The factor to be ascertained for the purposes of subsection (4) in relation to a relevant period:
(a) is the number, calculated to 3 decimal places, ascertained by dividing:
(i) if the relevant period commences on 1 February--the index number for the last preceding December quarter; or
(ii) if the relevant period commences on 1 August--the index number for the last preceding June quarter;
by the highest index number in respect of a December or June quarter that preceded that quarter, not being a December or June quarter that occurred before the December quarter in the year 1983; or
(b) if the number so ascertained would, if it were calculated to 4 decimal places, end in a number greater than 4--is the number so ascertained increased by 0.001.
(6) If an index number necessary for the calculation of the factor to be ascertained in relation to a relevant period in accordance with subsection (5) is not published by the Statistician more than 5 days before the first day of the period, subsection (4) has effect in relation to the period as if the reference in that subsection to the first day of the period were a reference to the day that is 5 days after the day on which the index number was published.
(7) Where by virtue of the application of this section, this Act has effect as if another rate of duty were substituted for a relevant rate on a particular day, the substitution, in so far as it affects duty payable in relation to goods, has effect in relation to goods entered for home consumption on or after that day.
(8) Where, by virtue of the application of this section, this Act is to have effect as if another rate of duty (in this subsection referred to as a substituted rate ) were substituted for a relevant rate on a particular day, the CEO shall, on or as soon as practicable after that day, publish for the information of the public a notice in the Gazette advertising the substituted rates and goods to which they are to apply.
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