Part 1: Revenue Measures (Continued)
Climate Change and Energy Efficiency
Clean Energy Future — coverage of non‑transport gaseous fuels under the carbon pricing mechanism
|Clean Energy Regulator||‑||..||75.0||75.0||80.0|
|Australian Taxation Office||‑||..||‑75.0||‑75.0||‑80.0|
|Total — Revenue||‑||-||‑||‑||‑|
In response to consultation with industry, the Government has decided to mandate coverage of non‑transport liquefied petroleum gas (LPG) and non‑transport liquefied natural gas (LNG) by the carbon pricing mechanism from 1 July 2013, and will mandate coverage of non‑transport compressed natural gas (CNG) by the carbon pricing mechanism from 1 July 2012.
Current carbon pricing arrangements apply an effective carbon price on non‑transport gaseous fuels by increasing the excise and excise‑equivalent customs duties on these fuels proportional to the relevant emissions rates and reducing fuel tax credits otherwise available to businesses. Coverage by the carbon pricing mechanism in place of these arrangements will reduce compliance costs and enable the gaseous fuels industry to better manage their carbon pricing obligations.
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