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Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 [No. 2]

Schedule 1 Amendments

   

Fuel Tax Act 2006

1  At the end of section 2-1

Add:

                   This Act also deals with certain aspects of CPRS fuel credits.

2  Subsection 43-5(3)

After “following grants”, insert “and subsidies”.

3  At the end of subsection 43-5(3)

Add:

               ; or (e)  a * CPRS fuel credit.

4  Subsection 60-5 (formula)

Repeal the formula, substitute:

5  Subsection 60-5(1)

Insert:

total CPRS fuel credits is the sum of all * CPRS fuel credits to which you are entitled that are attributable to the period.

Note:          Division 10 of the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 sets out which tax periods or fuel tax return periods CPRS fuel credit adjustments are attributable to.

6  Subsection 60-5(1)

Insert:

total decreasing CPRS fuel credit adjustments is the sum of all * decreasing CPRS fuel credit adjustments that are attributable to the period.

Note:          Division 10 of the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 sets out which tax periods or fuel tax return periods CPRS fuel credit adjustments are attributable to.

7  Subsection 60-5(1)

Insert:

total increasing CPRS fuel credit adjustments is the sum of all * increasing CPRS fuel credit adjustments that are attributable to the period.

Note:          Division 10 of the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 sets out which tax periods or fuel tax return periods CPRS fuel credit adjustments are attributable to.

8  Section 70-1

Omit “This Act”, substitute “The fuel tax law”.

9  Paragraphs 75-10(2)(a) and (b)

After “this Act”, insert “or the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 ”.

10  At the end of paragraph 75-15(1)(c)

Add:

                            (vi)  the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 ;

11  Paragraph 75-15(1)(f)

After “this Act”, insert “or the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 ”.

12  At the end of section 75-50

Omit all the words from and including “despite” to the end of the section, substitute:

despite:

                     (a)  the provisions of this Act outside that Division; and

                     (b)  this Division; and

                     (c)  the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 .

13  Section 110-5

Insert:

CPRS fuel credit has the same meaning as in the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 .

14  Section 110-5

Insert:

decreasing CPRS fuel credit adjustment has the same meaning as in the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 .

15  Section 110-5 (after paragraph (b) of the definition of fuel tax law )

Insert:

                   (ba)  the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 ; and

16  Section 110-5 (paragraph (c) of the definition of fuel tax law )

Omit “and (b)”, substitute “to (ba)”.

17  Section 110-5

Insert:

increasing CPRS fuel credit adjustment has the same meaning as in the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 .

Income Tax Assessment Act 1997

18  Subsection 995-1(1)

Insert:

CPRS fuel credit has the same meaning as in the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 .

Taxation Administration Act 1953

19  Paragraph 105-55(2)(b) in the Schedule

Omit “or * fuel tax credit”, substitute “, * fuel tax credit or * CPRS fuel credit”.

20  Subsection 105-55(3) in the Schedule

Omit “or * fuel tax credit”, substitute “, * fuel tax credit or * CPRS fuel credit”.

21  Paragraph 105-55(3)(c) in the Schedule

Omit “fuel tax credit”, substitute “fuel tax credit or CPRS fuel credit”.

22  At the end of subsection 105-55(4) in the Schedule

Add:

               ; or (c)  a * CPRS fuel credit for fuel that you acquire, manufacture, import, supply, or apply to your own use.

23  After subsection 105-55(4) in the Schedule

Insert:

          (4A)  For the purposes of paragraph (4)(c), fuel and supply have the same respective meanings as in the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 .

24  Subsection 105-55(5) in the Schedule

After “ * fuel tax credit”, insert “or * CPRS fuel credit”.

25  After paragraph 382-5(2)(h) in the Schedule

Insert:

                   (ha)  if you are entitled to a * CPRS fuel credit for fuel that you acquire, manufacture, import, supply, or apply to your own use—the acquisition, manufacture, importation, supply, or application to own use; or

26  At the end of paragraph 382-5(3)(b) in the Schedule

Add “or”.

27  After paragraph 382-5(3)(b) in the Schedule

Insert:

                   (ba)  a * CPRS fuel credit that is attributable to a tax period or fuel tax return period under subsection 10-5(5) of the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 ;

28  Paragraph 382-5(3)(c) in the Schedule

Omit “or importation”, substitute “, manufacture, importation, supply, or application to own use”.

29  After subsection 382-5(3) in the Schedule

Insert:

          (3A)  For the purposes of paragraphs (2)(h) and (3)(c), fuel and supply have the same respective meanings as in the Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Act 2009 .