Commonwealth act

Bass Strait Freight Adjustment Levy Act 1984

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

25 of 1984

Collection

act

Plain English Summary

2/10 complexity

This law imposes a tax (levy) on crude oil produced in the Bass Strait, specifically from the Gippsland Basin.

Key points:

What it taxes: Unstabilized crude petroleum oil produced at Australian installations (offshore oil rigs/platforms deemed part of Australia for customs purposes)
How much: $1.26 per kilolitre (a metric unit equal to 1,000 litres)
Who pays: The company or entity producing the oil
Why it exists: The title suggests it relates to adjusting freight costs associated with transporting Bass Strait oil
Timing: The law technically started on 1 January 1984, even though it was passed in April 1984

The Act works together with a companion law, the Bass Strait Freight Adjustment Levy Collection Act 1984, which handles how the money is actually collected.

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Current sections

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Bass Strait Freight Adjustment Levy Act 1984

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Bass Strait Freight Adjustment Levy Act 1984

No. 25 of 1984

An Act to impose a levy upon certain crude oil

[Assented to 26 April 1984]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

This Act may be cited as the Bass Strait Freight Adjustment Levy Act 1984.

Commencement

This Act shall be deemed to have come into operation on 1 January 1984.

Collection Act to be read with this Act

The Bass Strait Freight Adjustment Levy Collection Act 1984 shall be incorporated and read as one with this Act.

Interpretation

In this Act, unless the contrary intention appears—

“adjustment levy” means the levy imposed by this Act;

“Australian installation” means an installation (within the meaning of the Customs Act 1901) that is deemed to be part of Australia by virtue of the operation of section 5 of the Customs Tariff Act 1982.

Imposition of levy

A levy is imposed on unstabilized crude petroleum oil produced at an Australian installation in the Gippsland Basin in Bass Strait.

Rate of levy

The rate of adjustment levy is $1.26 per kilolitre.

By whom levy is payable

Adjustment levy in respect of unstabilized crude petroleum oil is payable by the producer of the oil.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Bass Strait Freight Adjustment Levy Act 1984

Bass Strait Freight Adjustment Levy Act 1984

No. 25 of 1984

An Act to impose a levy upon certain crude oil

[Assented to 26 April 1984]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

This Act may be cited as the Bass Strait Freight Adjustment Levy Act 1984.

Commencement

This Act shall be deemed to have come into operation on 1 January 1984.

Collection Act to be read with this Act

The Bass Strait Freight Adjustment Levy Collection Act 1984 shall be incorporated and read as one with this Act.

Interpretation

In this Act, unless the contrary intention appears—

“adjustment levy” means the levy imposed by this Act;

Imposition of levy

A levy is imposed on unstabilized crude petroleum oil produced at an Australian installation in the Gippsland Basin in Bass Strait.

Rate of levy

The rate of adjustment levy is $1.26 per kilolitre.

By whom levy is payable

Adjustment levy in respect of unstabilized crude petroleum oil is payable by the producer of the oil.