6FAAChange in duty rate of certain liquefied petroleum gases, liquefied natural gases and compressed natural gases

6FAA Change in duty rate of certain liquefied petroleum gases, liquefied natural gases and compressed natural gases

(1) This Act has effect as if, on 1 July 2015: (a) the rate of duty in subitem 10.19A of the Schedule is replaced by: (i) $0.126 per litre; or (ii) if the indexed rate worked out under subsection (2) is greater than $0.126 per litre—that indexed rate; and (b) the rate of duty in subitem 10.19B of the Schedule is replaced by: (i) $0.2644 per kilogram; or (ii) if the indexed rate worked out under subsection (2) is greater than $0.2644 per kilogram—that indexed rate; and (c) the rate of duty in subitem 10.19C of the Schedule is replaced by: (i) $0.2644 per kilogram; or (ii) if the indexed rate worked out under subsection (2) is greater than $0.2644 per kilogram—that indexed rate. (2) To work out the indexed rate, index the rate mentioned in paragraph (1)(a), (b) or (c) (as applicable) on 1 February 2015 under section 6A, on the assumptions that: (a) the rate is a CPI indexed rate for the purposes of that section; and (b) the amount of that rate on the day before 1 February 2015 is the amount set out in subparagraph (1)(a)(i), (b)(i) or (c)(i) (as applicable).