Federal Register of Legislation - Australian Government

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SR 2000 No. 23 Regulations as made
These Regulations amend the Petroleum Excise (Prices) Regulations.
Administered by: Treasury
General Comments: This instrument was backcaptured in accordance with Section 36 of the Legislative Instruments Act 2003
Registered 01 Jan 2005
Tabling HistoryDate
Tabled HR16-Mar-2000
Tabled Senate16-Mar-2000
Gazetted 15 Mar 2000
Date of repeal 09 Aug 2013
Repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013
Table of contents.

Petroleum Excise (Prices) Amendment Regulations 2000 (No. 1)

Statutory Rules 2000 No. 23

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Petroleum Excise (Prices) Act 1987.

Dated 8 March 2000.

WILLIAM DEANE

Governor-General

By His Excellency’s Command,

NICK MINCHIN


Petroleum Excise (Prices) Amendment Regulations 2000 (No. 1)1

Statutory Rules 2000 No. 232

made under the

 

 

 

Contents

                                                                                                                 Page

                        1  Name of Regulations                                                         2

                        2  Commencement                                                                2

                        3  Amendment of Petroleum Excise (Prices) Regulations         2

Schedule 1       Amendments                                                               3

 


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1              Name of Regulations

                These Regulations are the Petroleum Excise (Prices) Amendment Regulations 2000 (No. 1).

2              Commencement

                These Regulations commence on the commencement of the A New Tax System (Goods and Services Tax) Act 1999.

3              Amendment of Petroleum Excise (Prices) Regulations

                Schedule 1 amends the Petroleum Excise (Prices) Regulations.

 


Schedule 1        Amendments

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(regulation 3)

[1]         Regulation 1

substitute

1              Name of Regulations

                These Regulations are the Petroleum Excise (Prices) Regulations 1988.

[2]         Regulation 2, before definition of due date

insert

acquisition, in relation to an amount of input tax credit, has the meaning given by section 195-1 of the A New Tax System (Goods and Services Tax) Act 1999.

[3]         Regulation 2, after definition of f.o.b. contract

insert

GST has the meaning given by section 195-1 of the A New Tax System (Goods and Services Tax) Act 1999.

input tax credit has the meaning given by section 195‑1 of the A New Tax System (Goods and Services Tax) Act 1999.

[4]         Regulation 2, after definition of sale price

insert

supply, in relation to an amount of GST payable, has the meaning given by section 195-1 of the A New Tax System (Goods and Services Tax) Act 1999.

[5]         After subparagraph 4 (1) (c) (xiii)

insert

                   (xiiiA)    if the price given under subparagraph (xiii) includes an amount of GST payable on the supply to which that price relates:

                                   (A)     the amount of GST; and

                                   (B)     the amount (less GST) payable for the supply;

Note   The amount (less GST) payable for the supply will be an amount equal to the difference between the price and the amount of GST.

[6]         After subparagraph 4 (1) (c) (xvii)

insert

                  (xviiA)    where the currency of payment is not Australian dollars and the sale price under the contract includes an amount of GST payable on the supply to which that price relates:

                                   (A)     the amount of GST; and

                                   (B)     the amount (less GST) payable for the supply;

                                 expressed as amounts of that currency and as equivalent amounts of Australian dollars;

Note   The amount (less GST) payable for the supply will be an amount equal to the difference between the sale price and the amount of GST.

[7]         After paragraph 4 (1) (d)

insert

             (da)    if a value given under paragraph (d) is an amount mentioned in subparagraph 6 (1) (b) (ii) and the producer is entitled to an amount of input tax credit for the acquisition to which that value relates:

                          (i)    the amount of input tax credit; and

                         (ii)    the amount (less the input tax credit) incurred by the producer for the acquisition; and

                        (iii)    a statement identifying the cost to which those amounts relate;

Note   The amount (less the input tax credit) incurred by the producer for the acquisition will be an amount equal to the difference between the value of the cost and the amount of input tax credit.

[8]         Paragraph 4 (1) (e)

omit

and

[9]         After paragraph 4 (1) (e)

insert

              (ea)    if a total is given under paragraph (e) and the producer is entitled to an amount, or amounts, of input tax credit for the acquisitions to which that total relates:

                          (i)    the amount of the total input tax credit; and

                         (ii)    the total amount (less the total input tax credit) incurred by the producer for those acquisitions;

Note   The total amount (less the total input tax credit) incurred by the producer for those acquisitions will be an amount equal to the difference between the total given under para (e) and the amount of the total input tax credit.

[10]      After subparagraph 4 (1) (f) (vii)

insert

                    (viiA)    if the price given under subparagraph (vii) includes an amount of GST payable on the supply to which that price relates:

                                   (A)     the amount of GST; and

                                   (B)     the amount (less GST) payable for the supply;

Note   The amount (less GST) payable for the supply will be an amount equal to the difference between the price and the amount of GST.

[11]      After subparagraph 4 (1) (f) (xi)

insert

                     (xiA)    where the currency of payment is not Australian dollars and the sale price under the contract includes an amount of GST payable on the supply to which that price relates:

                                   (A)     the amount of GST; and

                                   (B)     the amount (less GST) payable for the supply;

                                 expressed as amounts of that currency and as equivalent amounts of Australian dollars;

Note   The amount (less GST) payable for the supply will be an amount equal to the difference between the sale price and the amount of GST.

[12]      Subregulation 5 (2), at the foot

insert

Note   For the purpose of calculating the transaction price under this subregulation, adjustments may have to be made to the sale price and the value of allowable costs (if any) — see subr (5).

[13]      After subregulation 5 (4)

insert

         (5)   Despite anything in subregulation (1) or (2), in calculating the transaction price for a quantity of excisable crude petroleum oil:

                (a)    if the price per kilolitre of the oil, or the sale price, under the contract of sale includes an amount of GST payable on the supply to which that price relates, that price is to be reduced by the amount of GST; and

               (b)    if:

                          (i)    the value applicable under paragraph 6 (1) (b) to a cost mentioned in paragraph 6 (1) (a) is an amount mentioned in subparagraph 6 (1) (b) (ii); and

                         (ii)    the producer is entitled to an amount of input tax credit for the acquisition to which that value relates;

                        that value is to be reduced by the amount of input tax credit.

Note   No adjustment is made under this subregulation for a value agreed under subpara 6 (1) (b) (i) because adjustment has already been made in agreeing on that value — see subr 6 (2).

[14]      Subregulation 6 (2)

substitute

         (2)   In agreeing on the value of a cost under subparagraph (1) (b) (i), the Minister, or the authorised person, and the producer, are to:

                (a)    include in that value any amount of GST that would be payable on the supply to which that value relates; and

               (b)    exclude from that value any amount of input tax credit to which the producer would be entitled for the acquisition to which that value relates.

         (3)   In this regulation:

authorised person means a person for the time being authorised by the Minister to exercise the Minister’s powers under section 7 of the Act.

Notes

1.       These Regulations amend Statutory Rules 1988 No. 22, as amended by 1989 No. 352; 1991 Nos. 68, 177 and 299; 1992 No. 410; 1996 No. 84; 1997 No. 166.

2.       Made by the Governor-General on 8 March 2000, and notified in the Commonwealth of Australia Gazette on 15 March 2000