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Thursday, 14 May 2009
Page: 3874


Mr COMBET (Parliamentary Secretary for Climate Change) (10:35 AM) —I move:

That this bill be now read a second time.

The Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 will legislate amendments to the Fuel Tax Act 2006 (‘the Fuel Tax Act’), the Income Tax Assessment Act 1997 and the Taxation Administration Act 1953 necessitated by the introduction of the CPRS fuel credits bill and the administrative arrangements announced by the government.

The measures in the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 are mechanical in nature. For example, the existing formula in the Fuel Tax Act for determining the net fuel amount, which is the amount either owed to the commissioner or the commissioner owes, is being replaced. The new formula includes the CPRS fuel credit and increasing or decreasing adjustments for CPRS fuel credits.

Full details of the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 are contained in the explanatory memorandum. I commend the bill to the House.

Debate (on motion by Mr Billson) adjourned.