Customs Tariff Amendment (Cost of Living Support) Act 2022 (Cth)

Customs Tariff Amendment (Cost of Living Support) Act 2022

No. 16, 2022

An Act to amend the Customs Tariff Act 1995, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedules Schedule 1—Amendments Customs Tariff Act 1995

Customs Tariff Amendment (Cost of Living Support) Act 2022 No. 16, 2022

An Act to amend the Customs Tariff Act 1995, and for related purposes

[Assented to 31 March 2022]

The Parliament of Australia enacts:

1 Short title This Act is the Customs Tariff Amendment (Cost of Living Support) Act 2022.

2 Commencement (1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information Column 1 Column 2 Column 3 Provisions Commencement Date/Details 1. The whole of this Act The day this Act receives the Royal Assent. 31 March 2022

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act. (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3 Schedules Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendments

Customs Tariff Act 1995

1 After section 19AAB Insert:

19AABA Temporary reduction in indexed fuel duty rates

Temporary rate reduction (1) Despite any other provision of this Act, a fuel duty rate on a day in a rate reduction period is a rate equal to 50% of the fuel duty rate that would have applied on that day apart from this section (including because of the operation of section 19). Note: For fuel duty rate, see section 19AAC and for rate reduction period, see subsection (6). (2) An amount worked out under subsection (1) is to be rounded to 3 decimal places (rounding up if the next decimal place is 5 or more). (3) A fuel duty rate that applies under subsection (1) in relation to a rate reduction period applies to: (a) goods imported into Australia on or after the start of that period; and (b) goods imported into Australia before the start of that period, where the time for working out the rate of import duty on the goods had not occurred before the start of that period.