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Excise Tariff Amendment (Rural and Regional Infrastructure) Bill 2001
Schedule 1 Amendments

Excise Tariff Act 1921

   

1  After section 7
          Insert:
8        Excise on certain petroleum products reserved for rural and regional infrastructure expenditure

(1)From 1 May 2001 an amount of excise revenue on certain petroleum products will be reserved for rural and regional infrastructure expenditure.

(2)Every six months the Commissioner of Taxation is to determine the amount of reserved duty at the rate of 1.5 cents per litre on the total volume of production falling to certain petroleum products in items 11, 12 and 17 of the Schedule.