41‑30 No fuel tax credit for fuel to be 41‑30 No fuel tax credit for fuel to be used in an aircraft

#### 41‑30 No fuel tax credit for fuel to be used in an aircraft 116 Subsection 41‑30(1) Omit “(1)”. 117 Subsection 41‑30(2) Repeal the subsection. 118 Section 41‑35 Repeal the section. 119 Division 42A Repeal the Division. 120 Section 43‑1 Omit: The amount of your credit for taxable fuel is the amount of fuel tax that was payable on the fuel: (a) reduced to take account of certain grants and subsidies that were payable in respect of the fuel (as the grants or subsidies reduced the amount of fuel tax that effectively applied to the fuel); and (b) for fuel that is not covered by the Opt‑in Scheme—reduced (with some exceptions) to take account of what the carbon price on the fuel emissions would be (if those emissions were subject to a carbon price). For fuel for use in aircraft that is covered by the Opt‑in Scheme, the amount of the credit is reduced so that it is limited to the carbon component rate that was factored into the rate of fuel tax. For gaseous fuel that is subject to the carbon pricing mechanism, the amount of the credit is the amount of the carbon charge that is embedded in the price of the fuel. substitute: The amount of your credit for taxable fuel is the amount of fuel tax that was payable on the fuel, reduced to take account of certain grants and subsidies that were payable in respect of the fuel (as the grants or subsidies reduced the amount of fuel tax that effectively applied to the fuel). 121 Subsection 43‑5(1) Repeal the subsection, substitute: (1) The \*amount of your tax fuel credit for taxable fuel is the amount of \*effective fuel tax that is payable on the fuel. > Note: The amount of the credit may be reduced under section 43‑10. 122 Subsections 43‑5(4) and (5) Repeal the subsections. 123 Section 43‑8 Repeal the section. 124 Section 43‑10 (heading) Repeal the heading, substitute: