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Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment (Carbon Tax Repeal) Bill 2014

Schedule 1 Amendments

   

Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Act 1995

1  Section 2A (heading)

Repeal the heading, substitute:

2A   Definition

2  Section 2A (definition of carbon unit )

Repeal the definition.

3  Section 2A (definition of fixed charge year )

Repeal the definition.

4  Section 2A (definition of flexible charge year )

Repeal the definition.

5  Section 2A (definition of issue )

Repeal the definition.

6  Section 2A (definition of per-tonne carbon price equivalent )

Repeal the definition.

7  Section 2A (definition of vintage year )

Repeal the definition.

8  Section 2B

Repeal the section.

9  Subsections 3A(7) and (8)

Repeal the subsections, substitute:

             (7)  The amount of levy imposed by subsection (1) on a licensee in respect of the import of an SGG in a quarter is the amount worked out using the following formula:

where:

prescribed rate means:

                     (a)  $165; or

                     (b)  if a lower amount is prescribed by the regulations—that lower amount.

10  Subsection 3A(9)

Omit “carbon charge component of the amount of the”.

11  Subsection 3A(10)

Repeal the subsection.

12  Paragraph 3A(13)(a)

Omit “the carbon charge component of the amount of”.

13  Subsections 4A(5) and (6)

Repeal the subsections, substitute:

             (5)  The amount of levy imposed by subsection (1) on a licensee in respect of the import of SGG equipment during a quarter is the amount worked out using the following formula:

where:

prescribed rate means:

                     (a)  $165; or

                     (b)  if a lower amount is prescribed by the regulations—that lower amount.

14  Application of amendments

The amendments of the Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Act 1995 made by this Schedule apply in relation to levy for:

                     (a)  the quarter beginning on 1 July 2014; and

                     (b)  each later quarter.