Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Link to this | Hansard source

by leave—I move:

(a) the following bills be introduced: the Excise Tariff Amendment (Fuel Indexation) Bill 2015, the Customs Tariff Amendment (Fuel Indexation) Bill 2015, the Fuel Indexation (Road Funding) Special Account Bill 2015 and the Fuel Indexation (Road Funding) Bill 2015; and

(b) the provisions of paragraphs (5) to (8) of standing order 111 not apply to the bill, allowing it to be considered during this period of sittings.

I table a statement of reasons justifying the need for these bills to be considered during these sittings and seek leave to have the statement incorporated in Hansard.

Leave granted.

The statement read as follows—

STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE IN THE 2015 WINTER SITTINGS

Excise Tariff Amendment (Fuel Indexation) Bill 2015

Customs Tariff Amendment (Fuel Indexation) Bill 2015

Fuel Indexation (Road Funding) Special Account Bill 2015

Fuel Indexation (Road Funding) Bill 2015

Purpose of the Bills

The purpose of these Bills is to validate by legislation the Excise Tariff Proposal (No. 1) 2014 and the Customs Tariff Proposal (No. 1) 2014 (tariff proposals) to give legislative effect to the indexation of excise and excise-equivalent customs duty applying to fuels from 10 November 2014, to round fuel duty rates and create a special account to ensure additional revenue gained is used to fund the provision of road infrastructure projects.

Reasons for Urgency

The tariff proposals were tabled in the House of Representatives on 30 October 2014 to increase the rate of excise and excise-equivalent customs duty on fuel. The tariff proposals must be validated by legislation within 12 months of tabling otherwise the effect of the tariff proposals will be invalidated retrospectively. This will require the Commissioner of Taxation and the Comptroller-General of Customs to refund the additional amount of excise and excise-equivalent customs duty collected over the previous 12 months to duty remitters (fuel manufacturers and importers).

Question agreed to.

I move:

That these bills may proceed without formalities, may be taken together and be now read a first time.

Question agreed to.

Bills read a first time.