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Light fuel oil users in regional Australia applaud the tax package



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LIGHT FUEL OIL USERS IN REGIONAL AUSTRALIA AP... Page 1 o f 1

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Other Media Statements [Minister for Regional Development, Territories and Local Government] [Minister for Transport and Regional Development]

[Michael Ronaldson, Parliamentary Secretary] [Departmental]

M e d i a

R e l e a s eTHE HON ALEX SC Minister for Regional Development, Territories and L S94/98 26 August 1998

LIG H T FUEL OIL USERS IN REGIONAL A USTR ALIA APPLAUD THE TAX PACKAGE

The M inister for Regional Development, Territories and Local Government, Alex Somlyay, has confirmed that light fuel oil used for remote area power generation will qualify for the full rebate o f excise under the Governm ent’s tax reform package.

"This is obviously very good news for rural and regional Australia."

Under the Labor Government decision in 1995, the excise on light fuel oil was increased and on top o f this the electricity sector was not generally eligible for the diesel fuel rebate scheme.

"The increase in excise on light fuel oil was designed at the time to prevent trucks and rail using light oil as a fuel substitute for diesel," Mr Somlyay said.

"The impact o f the Labor decision was severe. The excise increase resulted in a $28 million per year increase in the cost to produce electricity in rural and regional Australia. Areas in Western Australia, North Queensland and Tasmania fared very badly," he said.

The M inister said he expected this decision to allow remote area power companies to be eligible for the full rebate o f excise on light oil and diesel to stabilise electricity tariffs for these communities.

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Further information: Graeme Hallet (Minister's Office) 02-6277 7060

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