Excise Tariff Amendment Act 1995

Overview

The Excise Tariff Amendment Act 1995, enacted by the Parliament of Australia, aims to amend the Excise Tariff Act 1921. The Act was introduced to address the need for adjustments in the excise tariffs on various goods to ensure they remain current with economic and policy changes. It provides for the modification of the indexation of rates of duty on specific goods and amends the schedule of the Principal Act to reflect these changes. The policy objective of the Act is to ensure that excise duties are applied correctly and effectively to the taxed goods, thereby maintaining the integrity of the tax system. The Excise Tariff Amendment Act 1995 specifies different commencement dates for various sections to ensure a smooth transition and alignment of the new tariffs with fiscal periods. The amendments affect the rates of duty on stabilised crude petroleum oil, condensate, and other goods, reflecting policy decisions to adjust these rates in response to market conditions and fiscal requirements.

Scope and Application

The Excise Tariff Amendment Act 1995 is a Commonwealth Act that modifies the Excise Tariff Act 1921. It applies to the rates of excise duty on specified goods, particularly those related to fuel and petroleum products, and amends the indexation of these duties. The Act affects entities involved in the production, transportation, and refining of petroleum products, as well as those involved in the sale or use of such goods for fuel purposes. Its jurisdiction is nationwide, impacting both private and public sectors within Australia. The Act does not explicitly state exclusions, but its application is limited to the goods and rates specified in the amendments. The Act's provisions can be further detailed or extended through subordinate instruments, such as by-laws or regulations, which are not explicitly mentioned but are implied by references to prescribed rates and items in the schedule.

Key Provisions

The Excise Tariff Amendment Act 1995 (Act) modifies the Excise Tariff Act 1921 (Principal Act) by amending the rates of duty on certain goods. Section 3 of the Act removes a specific reference from the indexation of rates of duty, while Sections 4, 5, and 6 adjust the rates of duty applicable to different goods. These amendments have specific commencement dates, with Sections 1 and 2 taking effect on Royal Assent, and Sections 4, 5, and 6 commencing on 1 April, 11 May, and 1 July 1994 respectively. Under the Act, various entities and parties are subject to the modified rates of duty as specified in the amended Schedule of the Principal Act. For instance, Section 4 introduces new rates for stabilised crude petroleum oil and condensate, which are applicable from 1 April 1994. Similarly, Section 5 modifies the rates for goods specified under paragraphs 11(E)(3) and 11(G)(2), effective from 11 May 1994. Finally, Section 6 adjusts the rates for goods under subparagraph 11(A)(3)(a) and sub-item 11(D), effective from 1 July 1994. These changes mean that the applicable duty rates for these goods are now set at specific monetary values per litre. Breaches of the provisions under this Act may result in civil or criminal penalties. While the Act does not explicitly state the penalties for non-compliance, it is understood that breaches of excise duty laws generally attract significant fines and potential prosecution. The penalties can vary depending on the severity and intent of the breach, with potential maximum penalties aligning with those prescribed under the Excise Act 1901 and other relevant legislation. These penalties can include substantial fines and, in cases of serious or repeated breaches, imprisonment.