Excise Tariff Amendment Act (No. 2) 1978

Overview

The Excise Tariff Amendment Act (No. 2) 1978 was enacted by the Parliament of Australia to make amendments to the Excise Tariff Act 1921. This Act adjusts the excise duties on various goods manufactured or produced in Australia, aiming to align the excise duties with current economic conditions and fiscal requirements. The Act was introduced to address the need for updating excise duties to reflect changes in economic circumstances and to ensure the revenue raised by these duties met the government's fiscal objectives. The Excise Tariff Amendment Act (No. 2) 1978 specifies two commencement dates for the amendments, with the primary amendments coming into effect at 8 p.m. on 15 August 1978, and a subsequent amendment taking effect from 8 p.m. on 16 August 1978. The duty of excise is to be charged on goods manufactured or produced in Australia either after or before these dates, provided certain conditions are met regarding the goods' status and duty payment history. The amendments are detailed in the Schedule to the Act, where specific excise duty rates are updated for various goods.

Scope and Application

The Excise Tariff Amendment Act (No. 2) 1978 amends the Excise Tariff Act 1921, applying to all goods manufactured or produced in Australia. The Act imposes excise duties on goods as outlined in the amended Schedule of the Principal Act, effective from the specified dates, which are 15 August 1978 and 16 August 1978. It applies to manufacturers and producers who have goods under their control or in their possession at the time the amendments take effect and who have not yet paid excise duty on those goods. The amendments primarily adjust the rates of excise duty for various goods, such as alcoholic beverages and tobacco products, as detailed in the Schedule. The Act applies throughout the Commonwealth of Australia and does not include any specific exclusions, exemptions, or thresholds within its text, although further clarification or exceptions may be established through subordinate legislation or administrative regulations.

Key Provisions

The Excise Tariff Amendment Act (No. 2) 1978 (C2004A01983) amends the Excise Tariff Act 1921 by updating the duties of excise on various goods, which are detailed in the Schedule to the Principal Act. Section 3(1) amends the Schedule to impose new excise duties on goods manufactured or produced in Australia after the Act's commencement on 15 August 1978, and on goods that were under customs control, under excise supervision, or in the possession of manufacturers or producers at that time but had not yet been subjected to excise duty. Section 4(1) further amends the Schedule to increase the excise duty rate for specific goods from 8 p.m. on 16 August 1978, applying to goods manufactured or produced on or after this date and to those that were under customs control, under excise supervision, or in the possession of manufacturers or producers at that time but had not yet been subjected to excise duty. Entities and parties governed by this Act must ensure compliance with the new excise duties as outlined in the amended Schedule. Manufacturers and producers of the specified goods need to adjust their production and sales strategies to account for the new duty rates. Additionally, businesses must maintain records and documentation to demonstrate compliance with the amended duties. These obligations extend to ensuring that all goods subject to excise duties are appropriately accounted for and that any duties owed are paid in a timely manner. Failure to comply with the provisions of this Act can result in legal consequences. While specific penalties are not detailed within the text provided, non-compliance with excise duty laws generally can lead to civil or criminal penalties under the Excise Act 1901. Civil penalties can include fines and interest on unpaid duties, while criminal penalties can result in fines and imprisonment, depending on the severity and intent of the breach. Businesses found to be in non-compliance may face significant financial penalties and reputational damage.