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FUEL TAX REFORM AND EXCISE AND DUTY RATE CHANGES
BACKGROUND
Customs duty is imposed on certain goods (including alcohol, tobacco and petroleum) imported into Australia. If these goods were produced or manufactured in Australia they would be liable for excise duty. Customs, therefore imposes an equivalent rate of duty on the imported (or excise equivalent) goods to ensure consistency in treatment for both imported and domestic goods in the Australian market.
In June 2004, the Treasurer announced proposed reforms that were designed to provide excise and customs duty relief for a wide range of businesses and households. The main feature of the proposed reforms was the removal of the effective excise and customs duty from burner fuels and the replacement of refunds and remissions with the fuel tax credit system. At that time, it was also decided to conduct a review of the arrangements that apply to all excisable products (the Review), being alcohol (other than wine), petroleum products and tobacco and tobacco products. The Review was also extended to cover the imported excise equivalent goods, which are governed by the Customs Act 1901 (Customs Act) and the Customs Tariff Act 1995 (Tariff Act).
Customs Amendment (Fuel Tax Reform and Other Measures) Bill 2006 and Customs Tariff Amendment (Fuel Tax Reform and Other Measures) Bill 2006 were introduced into the Parliament on 11 May 2006. These Bills are complementary to Excise Laws Amendment (Fuel Tax Reform and Other Measures) Bill 2006 and Excise Tariff Amendment (Fuel Tax Reform and Other Measures) Bill 2006. Details of the four Bills and their Explanatory Memorandums are available on the Parliament of Australia website via the following link: http://www.aph.gov.au/bills/index.htm#billsnet. Subject to passage of the Bills, changes would come into force from 1 July 2006.
KEY CUSTOMS ACT MEASURES
􀂃 Allow the manufacture of excisable goods to occur in a customs warehouse;
􀂃 Require manufacture using excise equivalent goods to occur at a place licensed under both customs and excise legislation;
􀂃 Continue customs control of excise-equivalent goods until an excisable liability has been created under the Excise Act 1901, or the goods are entered into home consumption and relevant duties paid, or the goods are exported;
􀂃 Require excise manufacturers who use imported excise equivalent goods to acquit their Customs duty liabilities via a modified import declaration, ex-warehouse (Nature 30) form quoting treatment code 444;
􀂃 Repeal the fuel penalty surcharge provisions; and
􀂃 Put in place product standard provisions that were in the Spirits Act 1906, which is proposed to be repealed.