Excise Tariff Amendment (Product Stewardship for Oil) Act 2014
No. 71, 2014
An Act to amend the law relating to excise tariffs, and for related purposes
Contents
1 Short title
2 Commencement
3 Schedule(s)
Schedule 1—Amendments
Excise Tariff Act 1921
Excise Tariff Amendment (Product Stewardship for Oil) Act 2014
No. 71, 2014
An Act to amend the law relating to excise tariffs, and for related purposes
[Assented to 30 June 2014]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Excise Tariff Amendment (Product Stewardship for Oil) Act 2014.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information |
Column 1 | Column 2 | Column 3 |
Provision(s) | Commencement | Date/Details |
1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table | The day this Act receives the Royal Assent. | 30 June 2014 |
2. Schedule 1 | 1 July 2014. | 1 July 2014 |
Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
3 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 1—Amendments
Excise Tariff Act 1921
1 Schedule (table subitems 15.1, 15.2, 15.3 and 15.4, column headed “Rate of Duty”)
Omit “$0.05449”, substitute “$0.085”.
2 Application of amendments
(1) The amendments made by this Schedule apply to goods manufactured or produced in Australia on or after the day this Schedule commences and goods for which all the following conditions are met:
(a) the goods were manufactured or produced in Australia before that day;
(b) on that day, the goods either:
(i) were subject to the CEO’s control; or
(ii) were in the stock, custody or possession of, or belonged to, a manufacturer or producer of the goods; and
(c) no duty of excise had been paid on the goods before that day.
(2) This item has effect despite subsection 5(2) of the Excise Tariff Act 1921.
[Minister’s second reading speech made in—
House of Representatives on 29 May 2014
Senate on 16 June 2014]
Overview
The Excise Tariff Amendment (Product Stewardship for Oil) Act 2014 was enacted by the Parliament of Australia to amend the excise tariffs as they pertain to oil products, aiming to establish a more effective product stewardship framework. This Act received Royal Assent on 30 June 2014 and its primary objective is to revise the duty rates on oil products, thereby contributing to the responsible management and environmental sustainability of oil production and consumption in Australia. The amendments outlined in the Act are set to take effect from 1 July 2014, impacting both newly manufactured goods and those already in the supply chain as of the commencement date.
Scope and Application
The Excise Tariff Amendment (Product Stewardship for Oil) Act 2014 amends the Excise Tariff Act 1921, specifically adjusting the excise duty rate for oil products. This Act applies to goods manufactured or produced in Australia, including those already in the custody or possession of manufacturers or producers on the commencement date of the amendments, provided no excise duty has been paid on those goods. The amendments apply to goods manufactured or produced on or after the commencement date of the Schedule, which is 1 July 2014, ensuring that the new duty rates are uniformly applied across the industry. The Act's scope extends to all oil products subject to excise duty within Australia, thereby affecting entities and individuals involved in the production, storage, and distribution of these goods. The Act does not specify any exclusions or exemptions, and its application is not further extended or restricted through subordinate instruments.
Key Provisions
The Excise Tariff Amendment (Product Stewardship for Oil) Act 2014 amends the Excise Tariff Act 1921, primarily adjusting the rate of duty on certain oil products. Specifically, the Act modifies the duty rate from $0.05449 per litre to $0.085 per litre for goods specified in the amended table of the Excise Tariff Act 1921 (Schedule 1, subitem 15.1). These changes apply to goods manufactured or produced in Australia on or after 1 July 2014, and also to goods produced before this date that were under the control of the Commissioner of Excise or in the possession of the manufacturer or producer on this date, provided no excise duty had been paid on them beforehand (Schedule 1, item 2).
Entities and individuals governed by this Act must ensure compliance with the new duty rates when manufacturing or producing the specified oil products. This includes accurately calculating the excise duty on such products and ensuring that all applicable duties are paid. For products manufactured before the commencement date of 1 July 2014, but still in the possession of the manufacturer or producer on that date, duty must be paid within a specified period, as outlined in the Excise Tariff Act 1921.
Failure to comply with the requirements of this Act can lead to significant consequences. The Excise Tariff Act 1921 provides for various penalties for non-compliance, which may include civil penalties for underpayment or non-payment of duty. The maximum penalties can be substantial, depending on the nature and extent of the breach. Additionally, persistent or deliberate non-compliance could lead to criminal charges, with potential fines and imprisonment for individuals involved in the manufacture or production of the goods. It is crucial for entities and individuals to understand and adhere to the provisions of both the Excise Tariff Act 1921 and the Excise Tariff Amendment (Product Stewardship for Oil) Act 2014 to avoid these penalties.