Flagpost is a blog on current issues of interest to members of the Australian Parliament
Fuel excise increased on 10 November 2014 as a result of the Government’s tariff proposals (the Excise Tariff Proposal (No. 1) 2014 and Customs Tariff Proposal (No. 1) 2014) that were introduced in the House of Representatives on 30 October 2014. The tariff proposals increased the fuel excise by specific amounts (0.457 cents per litre for liquid fuels on top of the existing 38.143 cents per litre) and also provide for biannual indexation to the consumer price index for excise from 1 February 2015. The tariff proposals are consistent with the announcement in the 2014–15 Budget of the re-introduction of biannual indexation to fuel excise.
To have permanent effect a... Read more...
Recently there has been debate over the nature of the rebate of the excise paid on fuels, paid under the fuel tax credits scheme. This FlagPost clarifies the purpose of the rebate.The excise on petrol and diesel is a tax on business inputs as well as on final use by households. Businesses using petrol and diesel as inputs into production processes pay excise of 38.143 cents per litre. Under the fuel tax credits scheme, eligible businesses can claim a rebate—in full or in part—of the excise that they have paid. In 2010-11, the value of these credits amounted to $5.1 billion. The main recipient industries were mining ($2.031 billion), transport, postal and warehousing ($988 million), and ag... Read more...
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