CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 129 Estimation error unit shortfall
CLEAN ENERGY ACT 2011 (NO. 131, 2011) - SECT 129
Estimation error unit shortfallScope
(1) This section applies if:
(a) a person is a liable entity for an eligible financial year; and
(b) the eligible financial year is a fixed charge year.
(2) If the person has one or more estimation error numbers for the eligible financial year:
(a) the person has a unit shortfall under this section for the eligible financial year; and
(b) the number of units in that shortfall is equal to the total of those estimation error numbers.
Note: Unit shortfall charge is imposed by whichever of the following is applicable:
(a) Part 3 of the Clean Energy (Charges--Excise) Act 2011 ;
(b) Part 3 of the Clean Energy (Charges--Customs) Act 2011 ;
(c) the Clean Energy (Unit Shortfall Charge--General) Act 2011 .
Estimation error number
(3) If:
(a) the person gave the Regulator an estimate under subsection 126(4) for the eligible financial year; and
(b) the number worked out using the formula in subsection (4) of this section exceeds zero;
that number is an estimation error number of the person for the eligible financial year.
(4) The formula is as follows:
where:
"provisional emissions number" means the provisional emissions number to which the estimate relates.