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Thursday, 12 May 2011
Page: 3807

Mr SHORTEN (MaribyrnongAssistant Treasurer and Minister for Financial Services and Superannuation) (10:51): I move:

That this bill be now read a second time.

This bill forms part of a package of bills concerning the taxation of alternative fuels. The bill amends the law to introduce excise-equivalent customs duties on certain alternative fuels.

The bill sets out the excise-equivalent customs duty rates that will apply at each stage of phasing in the new alternative fuels tax regime for LPG, LNG, and CNG, and sets out how blends of fuels in the fuels tax system should be handled to determine excise equivalent customs duty.

Full details of the Customs Tariff Amendment (Taxation of Alternative Fuels) Bill 2011 are contained in the explanatory memorandum.

Debate adjourned.