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Thursday, 24 May 2001
Page: 26976

Mr SLIPPER (Parliamentary Secretary to the Minister for Finance and Administration) (10:26 AM) —I move:

That the bill be now read a second time.

The Customs Tariff Amendment Bill (No. 3) 2001 contains an amendment to the Customs Tariff Act 1995.

This amendment gives effect to the decision of the government, announced by the Prime Minister on 1 March 2001, to abolish the indexation of customs duty on imported petroleum fuels.

The bill amends the table in subsection 19(1) of the Customs Tariff Act. Section 19 permits the indexation of customs rates of duty in line with movements in the excise rate of duty for similar goods. The amendment to the table removes the paired Customs Subheadings and Excise Items relating to petroleum fuels.

This amendment is complementary to amendments being made to the Excise Tariff Act 1921.

Full details of the measure contained in this bill are contained in the explanatory memorandum for this bill and also for the Excise Tariff Amendment Bill (No. 2) 2001, which I now present. I commend the bill to the chamber.

Debate (on motion by Mr McClelland) adjourned.