Commonwealth Numbered Acts

EXCISE TARIFF AMENDMENT ACT (NO. 2) 1997 No. 78 of 1997 - SCHEDULE 1

SCHEDULE 1-AMENDMENT OF THE EXCISE TARIFF ACT 1921 1 Subsection 3(1)
(definition of delayed-entry LP) Repeal the definition. 2 Subsection 3(1)
(definition of delayed-entry LPG) Repeal the definition. 3 Subsection 3(1)
(definition of delayed-entry LPG rate) Repeal the definition. 4 Subsection
3(1) (definition of delayed-entry LP rate) Repeal the definition. 5 Subsection
6AB(1) Omit "31 December 1987", substitute "30 June 1997". 6 Paragraphs
6AB(1)(b) and (c) Repeal the paragraphs, substitute:
or (b) if at that time the final VOLWARE price has not been so determined-the
interim VOLWARE price determined under that section for the month and an oil
producing region that constitutes or includes that production area. 7
Subsection 6AB(2) Repeal the subsection. 8 Paragraph 6AC(a) Omit ", an interim
VOLWARE price or a reference price", substitute "or an interim VOLWARE price".
9 Subsection 6B(1) (definition of added duty) Repeal the definition. 10
Subsection 6B(1) (definition of added percentage) Repeal the definition. 11
Subsection 6B(1) (definition of adjusted previous year's duty) Omit "the
division" (first occurring), substitute "that month". 12 Subsection 6B(1)
(definition of adjusted previous year's duty) Omit "the division" (second
occurring), substitute "that first- mentioned month". 13 Subsection 6B(1)
(definition of credited adjustment amount) Repeal the definition. 14
Subsection 6B(1) (definition of debited adjustment amount) Repeal the
definition. 15 Subsection 6B(1) (definition of maximum added percentage)
Repeal the definition. 16 Subsection 6B(1) (definition of non-adjusted
previous year's duty) Omit "the division" (first occurring), substitute "that
month". 17 Subsection 6B(1) (definition of non-adjusted previous year's duty)
Omit "the division" (second occurring), substitute "that first- mentioned
month". 18 Subsection 6B(1) (definition of prescribed division) Repeal the
definition. 19 Subsection 6B(1A) Repeal the subsection. 20 Subsections 6B(3),
(3A), (3B), (3C) and (3D) Repeal the subsections, substitute: The amount of
duty

(3) Subject to subsection (3A), the amount of duty in respect of relevant oil
produced from a prescribed production area and entered for home consumption
during a month of a financial year commencing on or after 1 July 1997 is the
amount worked out using the formula:
    Notional  +  Added  +  Debited     -  (Duty  +   Credited)

    duty         duty      adjustment     (paid    adjustment)

                           amount         (            amount)
where: notional duty is the amount of notional duty in respect of relevant oil
produced from that area and entered for home consumption during the period
starting at the start of that financial year and ending at the end of that
month, worked out in accordance with subsection (4). added duty is the sum of
the added duty (if any) for that area for:

   (a)  that month; and

   (b)  each month of that year before that month; worked out for each of
        those months in accordance with subsections (5A), (5AB) and (5AC).
        debited adjustment amount is the debited adjustment amount (if any)
        for that area and that month, worked out in accordance with subsection
        (5B). duty paid is the amount of duty (if any) paid in respect of
        relevant oil produced from that area and entered for home consumption
        during the period starting at the start of that financial year and
        ending at the end of that month. credited adjustment amount is the
        credited adjustment amount (if any) for that area and that month,
        worked out in accordance with subsection (5C). Disregarding certain
        amounts when working out amount of duty

(3A) In working out, for the purposes of subsection (3), the amount of duty
paid in respect of relevant oil produced from a prescribed production area and
entered for home consumption during a period starting at the start of a
financial year and ending at the end of a month of that year, the following
amounts are to be disregarded:

   (a)  any increases in the amount of duty paid as a result of the addition
        of debited adjustment amounts for that area for any of the preceding
        months of that year;

   (b)  any decreases in that amount as a result of the subtraction of
        credited adjustment amounts for that area for any of those months. 21
        Subsection 6B(5) After "relevant percentage", insert "(set out in
        subsection (7))". 22 Subsection 6B(5A) Repeal the subsection,
        substitute: Added duty

(5A) Subject to subsection (9A), if:

   (a)  the applicable petroleum price for a month of a financial year and a
        prescribed production area exceeds the threshold price at the start of
        the month; and

   (b)  the quantity of relevant oil produced from that prescribed production
        area and entered for home consumption during the month exceeds the
        threshold quantity for that month; there is added duty for that area
        for the month (whether in that financial year or in the following
        financial year) that immediately follows that first-mentioned month.
        The amount of added duty

(5AB) The amount of added duty referred to in subsection (5A) is an amount
equal to the added percentage, for the month, of the product of:

   (a)  that applicable petroleum price; and

   (b)  the number of kilolitres in the excess referred to in paragraph
        (5A)(b); worked out to the nearest cent. The added percentage

(5AC) The added percentage referred to in subsection (5AB) is the lesser of:

   (a)  5%; or

   (b)  the percentage worked out using the formula:
15 x (Price - Threshold price)
Price where: price is the number of dollars in the price that, at the start of
the month, is the applicable petroleum price for that month. threshold price
is the number of dollars in the threshold price at the start of the month. 23
Subsection 6B(5B) Omit "that division" (wherever occurring), substitute "that
first- mentioned month". 24 Subsection 6B(5C) Omit "that division" (wherever
occurring), substitute "that first- mentioned month". 25 Subsection 6B(6)
After "relevant percentage", insert "(set out in subsection (7))". 26
Subsection 6B(9) Omit "relevant division" (wherever occurring), substitute
"relevant month". 27 Subsection 6B(9A) Repeal the subsection, substitute:
Added duty-dealing with the first year of production

(9A) If no relevant oil produced from a prescribed production area was ever
entered for home consumption before the start of a month (the relevant month),
then, when working out the added duty (if any) for that area for the month
that immediately follows the relevant month, subsection (5A) has effect in
relation to the relevant oil produced from that area and entered for home
consumption during the latter month as if the reference to the threshold
quantity for the relevant month were a reference to the product of that
threshold quantity and the factor worked out using the formula:
days remaining in the relevant month
days in the relevant month where: days remaining in the relevant month is the
number of days in the period starting on the day on which relevant oil
produced from the prescribed production area was first entered for home
consumption and ending at the end of the relevant month. days in the relevant
month is the number of days in the relevant month. 28 Section 6B Omit
"prescribed division" (wherever occurring), substitute "month". 29 Section 6B
(other than the definitions of adjusted previous year's duty and non-adjusted
previous year's duty in subsection (1) and other than subsection(9A)) Omit
"the division" (wherever occurring), substitute "that month". 30 Section 6B
(other than subsections (5B) and (5C)) Omit "that division" (wherever
occurring), substitute "that month". Note 1: The following heading to
subsection 6B(1) is inserted "Definitions". Note 2: The following heading to
subsection 6B(2) is inserted "Introduction". Note 3: The following heading to
subsection 6B(4) is inserted "The total amount of notional duty". Note 4: The
following heading to subsection 6B(5) is inserted "The amount of notional duty
for a quantity of oil-one petroleum price". Note 5: The following heading to
subsection 6B(5B) is inserted "The debited adjustment amount". Note 6: The
following heading to subsection 6B(5C) is inserted "The credited adjustment
amount". Note 7: The following heading to subsection 6B(6) is inserted "The
amount of notional duty for a quantity of oil-more than one petroleum price".
Note 8: The following heading to subsection 6B(7) is inserted "Relevant
percentage for a quantity of oil". Note 9: The following heading to subsection
6B(8) is inserted "Rounding the number of kilolitres in a quantity of oil".
Note 10: The following heading to subsection 6B(9) is inserted "The amount of
notional duty-dealing with the first year of production". Note 11: The
following heading to subsection 6B(10) is inserted "Interpretation of the
Schedule". 31 Subsection 6C(1) (definition of adjusted previous year's duty)
Omit "the division" (first occurring), substitute "that month". 32 Subsection
6C(1) (definition of adjusted previous year's duty) Omit "the division"
(second occurring), substitute "that first- mentioned month". 33 Subsection
6C(1) (definition of credited adjustment amount) Repeal the definition. 34
Subsection 6C(1) (definition of debited adjustment amount) Repeal the
definition. 35 Subsection 6C(1) (definition of non-adjusted previous year's
duty) Omit "the division" (first occurring), substitute "that month". 36
Subsection 6C(1) (definition of non-adjusted previous year's duty) Omit "the
division" (second occurring), substitute "that first- mentioned month". 37
Subsection 6C(1) (definition of prescribed division) Repeal the definition. 38
Subsections 6C(3), (3A) and (3B) Repeal the subsections, substitute: The
amount of duty

(3) Subject to subsection (3A), the amount of duty in respect of new oil
produced from a prescribed new production area and entered for home
consumption during a month of a financial year commencing on or after 1 July
1997 is the amount worked out using the formula:
    Notional  +  Debited     -  (Duty  +   Credited)

    duty         adjustment     (paid    adjustment)

                 amount         (            amount)
where: notional duty is the amount of notional duty in respect of new oil
produced from that area and entered for home consumption during the period
starting at the start of that financial year and ending at the end of that
month, worked out in accordance with subsection (4). debited adjustment amount
is the debited adjustment amount (if any) for that area and that month, worked
out in accordance with subsection (5A). duty paid is the amount of duty (if
any) paid in respect of new oil produced from that area and entered for home
consumption during the period starting at the start of that financial year and
ending at the end of that month. credited adjustment amount is the credited
adjustment amount (if any) for that area and that month, worked out in
accordance with subsection (5B). Disregarding certain amounts when working out
amount of duty

(3A) In working out, for the purposes of subsection (3), the amount of duty
paid in respect of new oil produced from a prescribed new production area and
entered for home consumption during a period starting at the start of a
financial year and ending at the end of a month of that year, the following
amounts are to be disregarded:

   (a)  any increases in the amount of duty paid as a result of the addition
        of debited adjustment amounts for that area for any of the preceding
        months of that year;

   (b)  any decreases in that amount as a result of the subtraction of
        credited adjustment amounts for that area for any of those months. 39
        Subsection 6C(5) After "relevant percentage", insert "(set out in
        subsection (7))". 40 Subsection 6C(5A) Omit "that division" (wherever
        occurring), substitute "that first- mentioned month". 41 Subsection
        6C(5B) Omit "that division" (wherever occurring), substitute "that
        first- mentioned month". 42 Subsection 6C(6) After "relevant
        percentage", insert "(set out in subsection (7))". 43 Subsection 6C(9)
        Omit "relevant division" (wherever occurring), substitute "relevant
        month". 44 Section 6C Omit "prescribed division" (wherever occurring),
        substitute "month". 45 Section 6C (other than the definitions of
        adjusted previous year's duty and non-adjusted previous year's duty in
        subsection (1)) Omit "the division" (wherever occurring), substitute
        "that month". 46 Section 6C (other than subsections (5A) and (5B))
        Omit "that division" (wherever occurring), substitute "that month".
        Note 1: The following heading to subsection 6C(1) is inserted
        "Definitions". Note 2: The following heading to subsection 6C(2) is
        inserted "Introduction". Note 3: The following heading to subsection
        6C(4) is inserted "The total amount of notional duty". Note 4: The
        following heading to subsection 6C(5) is inserted "The amount of
        notional duty for a quantity of oil-one petroleum price". Note 5: The
        following heading to subsection 6C(5A) is inserted "The debited
        adjustment amount". Note 6: The following heading to subsection 6C(5B)
        is inserted "The credited adjustment amount". Note 7: The following
        heading to subsection 6C(6) is inserted "The amount of notional duty
        for a quantity of oil-more than one petroleum price". Note 8: The
        following heading to subsection 6C(7) is inserted "Relevant percentage
        for a quantity of oil". Note 9: The following heading to subsection
        6C(8) is inserted "Rounding the number of kilolitres in a quantity of
        oil". Note 10: The following heading to subsection 6C(9) is inserted
        "The amount of notional duty-dealing with the first year of
        production". Note 11: The following heading to subsection 6C(10) is
        inserted "Interpretation of the Schedule". 47 Subsection 6D(1)
        (definition of adjusted previous year's duty) Omit "the division"
        (first occurring), substitute "that month". 48 Subsection 6D(1)
        (definition of adjusted previous year's duty) Omit "the division"
        (second occurring), substitute "that first- mentioned month". 49
        Subsection 6D(1) (definition of credited adjustment amount) Repeal the
        definition. 50 Subsection 6D(1) (definition of debited adjustment
        amount) Repeal the definition. 51 Subsection 6D(1) (definition of
        non-adjusted previous year's duty) Omit "the division" (first
        occurring), substitute "that month". 52 Subsection 6D(1) (definition
        of non-adjusted previous year's duty) Omit "the division" (second
        occurring), substitute "that first- mentioned month". 53 Subsection
        6D(1) (definition of prescribed division) Repeal the definition. 54
        Subsections 6D(3), (3A) and (3B) Repeal the subsections, substitute:
        The amount of duty

(3) Subject to subsection (3A), the amount of duty in respect of intermediate
oil produced from a prescribed intermediate production area and entered for
home consumption during a month of a financial year commencing on or after 1
July 1997 is the amount worked out using the formula:
    Notional  +  Debited     -  (Duty  +   Credited)

    duty         adjustment     (paid    adjustment)

                 amount         (            amount)
where: notional duty is the amount of notional duty in respect of intermediate
oil produced from that area and entered for home consumption during the period
starting at the start of that financial year and ending at the end of that
month, worked out in accordance with subsection (4). debited adjustment amount
is the debited adjustment amount (if any) for that area and that month, worked
out in accordance with subsection (5A). duty paid is the amount of duty (if
any) paid in respect of intermediate oil produced from that area and entered
for home consumption during the period starting at the start of that financial
year and ending at the end of that month. credited adjustment amount is the
credited adjustment amount (if any) for that area and that month, worked out
in accordance with subsection (5B). Disregarding certain amounts when working
out amount of duty

(3A) In working out, for the purposes of subsection (3), the amount of duty
paid in respect of intermediate oil produced from a prescribed intermediate
production area and entered for home consumption during a period starting at
the start of a financial year and ending at the end of a month of that year,
the following amounts are to be disregarded:

   (a)  any increases in the amount of duty paid as a result of the addition
        of debited adjustment amounts for that area for any of the preceding
        months of that year;

   (b)  any decreases in that amount as a result of the subtraction of
        credited adjustment amounts for that area for any of those months. 55
        Subsection 6D(5) After "relevant percentage", insert "(set out in
        subsection (7))". 56 Subsection 6D(5A) Omit "that division" (wherever
        occurring), substitute "that first- mentioned month". 57 Subsection
        6D(5B) Omit "that division" (wherever occurring), substitute "that
        first- mentioned month". 58 Subsection 6D(6) After "relevant
        percentage", insert "(set out in subsection (7))". 59 Subsection 6D(9)
        Omit "relevant division" (wherever occurring), substitute "relevant
        month". 60 Section 6D Omit "prescribed division" (wherever occurring),
        substitute "month". 61 Section 6D (other than the definitions of
        adjusted previous year's duty and non-adjusted previous year's duty in
        subsection (1)) Omit "the division" (wherever occurring), substitute
        "that month". 62 Section 6D (other than subsections (5A) and (5B))
        Omit "that division" (wherever occurring), substitute "that month".
        Note 1: The following heading to subsection 6D(1) is inserted
        "Definitions". Note 2: The following heading to subsection 6D(2) is
        inserted "Introduction". Note 3: The following heading to subsection
        6D(4) is inserted "The total amount of notional duty". Note 4: The
        following heading to subsection 6D(5) is inserted "The amount of
        notional duty for a quantity of oil-one petroleum price". Note 5: The
        following heading to subsection 6D(5A) is inserted "The debited
        adjustment amount". Note 6: The following heading to subsection 6D(5B)
        is inserted "The credited adjustment amount". Note 7: The following
        heading to subsection 6D(6) is inserted "The amount of notional duty
        for a quantity of oil-more than one petroleum price". Note 8: The
        following heading to subsection 6D(7) is inserted "Relevant percentage
        for a quantity of oil". Note 9: The following heading to subsection
        6D(8) is inserted "Rounding the number of kilolitres in a quantity of
        oil". Note 10: The following heading to subsection 6D(9) is inserted
        "The amount of notional duty-dealing with the first year of
        production". Note 11: The following heading to subsection 6D(10) is
        inserted "Interpretation of the Schedule". 63 Section 6F Repeal the
        section. 64 Paragraph 11(A)(3) of the Schedule Repeal the paragraph,
        substitute:

(3) n.e.i.-

   (a) 
For use in aircraft
$0.17931 per litre

   (b) 
For use otherwise than in aircraft and having a lead
content exceeding 13 milligrams per litre
$0.36725 per litre

   (c) 
For use otherwise than in aircraft and having a lead
content not exceeding 13 milligrams per litre
$0.34559 per litre 65 Sub-item 11(D) of the Schedule Repeal the sub-item,
substitute:

                (D) 
Kerosene for use in aircraft
$0.01778 per litre 66 Schedule (sub-item 17(C)) Repeal the sub-item. 67 Saving
provision (1) Sections 6AB, 6AC, 6B, 6C and 6D of the Excise Tariff Act 1921,
as in force immediately before the commencement day, continue to apply in
relation to relevant oil produced from a prescribed production area, new oil
produced from a prescribed new production area, and intermediate oil produced
from a prescribed intermediate production area, that is entered for home
consumption during a prescribed division occurring before that day. (2) In
this item: commencement day means 1 July 1997. intermediate oil and new oil
have the same meanings as in subsection 3(1) of the Excise Tariff Act 1921 as
in force immediately before the commencement day. prescribed division,
prescribed production area and relevant oil have the same meanings as in
subsection 6B(1) of the Excise Tariff Act 1921 as in force immediately before
the commencement day. prescribed intermediate production area has the same
meaning as in subsection 6D(1) of the Excise Tariff Act 1921 as in force
immediately before the commencement day. prescribed new production area has
the same meaning as in subsection 6C(1) of the Excise Tariff Act 1921 as in
force immediately before the commencement day.

(Minister's second reading speech made in-
House of Representatives on 26 March 1997
Senate on 15 May 1997)