Greg Combet (Charlton, Australian Labor Party, Minister Assisting the Minister for Climate Change) Share this | Hansard source

I move:

That this bill be now read a second time.

This bill seeks to amend the Customs Tariff Act 1995 to confirm in legislation the government’s commitment in the Carbon Pollution Reduction Scheme: Australia’s Low Pollution Future White Paper. The commitment is to cut fuel taxes on a cent-for-cent basis to offset the initial price impact on fuel of introducing the Carbon Pollution Reduction Scheme.

This amendment will introduce a new section into the Customs Tariff Act to ensure that the reductions made to the excise rates on fuels due to the introduction of the scheme also apply to the relevant imported products.

Where a relevant excise rate, as defined in the Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2010, is reduced, this amendment will substitute the same rate to the excise equivalent customs duty rates. The substitution will apply to the subheadings in schedules 3, 5, 6, 7 and 8 and item 50(1A) in schedule 4 to the Customs Tariff Act.

Only the rate of excise equivalent duty—that is, the non-ad valorem component of the duty will be substituted.

The amendments to the Customs Tariff Act will commence on 1 July 2011 assuming the Carbon Pollution Reduction Scheme Bill 2010 commences on that date.

Full details of the Customs Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2010 are contained in the explanatory memorandum. I commend the bill to the House.

Debate (on motion by Dr Southcott) adjourned.

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