Bills Digest No. 143 2000-01
Customs Tariff Amendment Bill (No. 3) 2001
WARNING:
This Digest was prepared for debate. It reflects the legislation as introduced and does not canvass subsequent amendments. This Digest does not have any official legal status. Other sources should be consulted to determine the subsequent official status of the Bill.
CONTENTS
Passage History
Purpose
Background
Main Provisions
Contact Officer & Copyright Details
Customs Tariff Amendment Bill (No. 3) 2001
Date Introduced: 22 May 2001
House: House of Representatives
Portfolio: Justice and Customs
Commencement: Royal Assent
To remove the indexation of customs duty on specified imported petroleum fuels.
The reader is referred to the Digest for the Excise Tariff Amendment Bill (No. 2) 2001.
Subsection 19(1) of the Customs Tariff Act 1995 contains a table with a list of customs tariff subheadings which are paired to equivalent excise tariff items for the purposes of the indexation of duty rates.
The effect of the proposed amendments proposed by items 1 and 2 of Schedule 1 is to repeal and substitute a new table in subsection 19(1) without the paired customs and excise items. The consequence of this will be that the customs duty on specified petroleum products will not be subject to indexation on or after 1 August 2001.
Ian Ireland
4 June 2001
Bills Digest Service
Information and Research Services
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ISSN 1328-8091
© Commonwealth of Australia 2000
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Published by the Department of the Parliamentary Library, 2000.
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