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Tuesday, 7 February 2012
Page: 95

Mr BRADBURY (LindsayParliamentary Secretary to the Treasurer) (20:14): First, I would like to thank those members who contributed to this debate. These bills deliver on this government's commitment to reduce business compliance costs for businesses dealing with goods liable for excise and excise equivalent customs duty. These bills amend the Excise Act 1901 and the Customs Act 1901 to codify administrative arrangements relating to periodic settlement permissions in relation to excise and customs duty. The amendments establish a flexible seven-day permission cycle for the giving of returns and the payment of excise and excise equivalent customs duty. When the seven-day permission is for gaseous fuels, the permission holder may give their return and pay duty up to six business days following the end of the seven-day period.

Additionally, small business entities, prescribed persons and producers of prescribed goods will be able to apply for a permission to defer their customs duty settlement to a monthly reporting cycle.

I welcome the contributions of all speakers and note the widespread support for these measures. I commend these bills to the House.

The DEPUTY SPEAKER ( Mr KJ Thomson ): I will put the Excise Amendment (Reducing Business Compliance Burden) Bill first. The question is that this bill be now read a second time.

Question agreed to.

Bill read a second time.