Commonwealth legislation

Customs By-law No. 0817449

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

2/10 complexity

This by-law gives tax breaks (customs duty exemptions) to companies importing equipment for oil and gas operations in the Eastern Greater Sunrise offshore area (a gas field region in the Timor Sea).

What goods are covered? The exemption applies to equipment, parts, and accessories used for:

Exploring for petroleum
Extracting (recovering) petroleum
Processing or storing petroleum
Preparing petroleum for transport
Building or operating pipelines

Who benefits? Companies undertaking these "petroleum activities" in the specific Eastern Greater Sunrise offshore area, which is defined by reference to the Offshore Petroleum Act 2006.

Why does this matter? It reduces operating costs for companies developing the Greater Sunrise gas fields by allowing them to import necessary machinery and equipment without paying customs duties.

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Current sections

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Customs By-law No. 0817449

CUSTOMS ACT 1901

CUSTOMS TARIFF ACT 1995

PART II OF SCHEDULE 4

BY-LAW No. 0817449

I, Jennifer Reimitz, delegate of the Chief Executive Officer for the purposes of section 271 of the Customs Act 1901, hereby make the by-law set out in the Schedule below.

THE SCHEDULE

Item 22A

Part II of Schedule 4

This by-law may be cited as Customs By-law No. 0817449.
This by-law shall take effect on and from 1 August 2008.
Item 22A in Part II of Schedule 4 to the Customs Tariff Act 1995 applies to goods (meaning whole goods and parts and accessories) being for use in a petroleum activity in the Eastern Greater Sunrise offshore area.
In this by-law, the Eastern Greater Sunrise offshore area has the same meaning as it has in the Offshore Petroleum Act 2006.
For the purposes of this by-law, petroleum activity means any activity relating to any of the following operations:

(a) petroleum exploration operations;

(b) operations for the recovery of petroleum;

(d) operations relating to the preparation of petroleum for transport;

(e) operations connected with the construction or operation of a pipeline, within the meaning of the Offshore Petroleum Act 2006.

For the purposes of this by-law, the "Customs Tariff Act 1995" means the Customs Tariff Act 1995, as amended or proposed to be altered.

Dated this 23rd day of July 2008.

(signed)

Jennifer Reimitz

Delegate of the

Chief Executive Officer

Source text

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

1 Customs By-law No. 0817449