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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 shortfall

Scope

             (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.

Unit shortfall

             (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.