Bills Digest No. 17 2003-04
Customs Tariff
Amendment (ACIS) Bill 2003
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
Passage History
Customs Tariff Amendment
(ACIS) Bill 2003
Date Introduced:
25 June 2003
House: House of Representatives
Portfolio: Justice and Customs
Commencement:
The Act commences on Royal
Assent.
The purpose of the Bill is to reduce the
customs duty rate for passenger motor vehicles and certain
components from 10% to 5% on 1 January 2010. The long lead-time is
to provide transparency and planning in relation to proposed tariff
reforms associated with the Automotive Competitiveness and
Investment Scheme (ACIS).
Background
The background to this Bill is provided in the
accompanying Bills Digest No. 16, 2003 04 on the ACIS
Administration Amendment Bill 2003.
The entirety of this Bill simply adjusts the
multiple listings in the tariff schedule of the Customs Tariff
Act 1995 by reference to the 8 digit tariff numbers to reduce
the rate of duty for passenger motor vehicles and certain
components from 10% to 5% from 1 January 2010. The additional duty
of $12 000 applicable to used or second hand passenger motor
vehicles remains unchanged. The amendments do not interfere with
tariff preference and duty free entry for certain countries that
receive preferential rates of duty.
Brendan Bailey
19 August 2003
Bills Digest Service
Information and Research Services
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ISSN 1328-8091
© Commonwealth of Australia 2003
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Published by the Department of the Parliamentary Library,
2003.
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