Australia: Energy-related taxes pass parliament

Energy-related measures announced in the 2022 federal budget has passed parliament

Energy-related measures announced in the 2022 federal budget has passed parliament

Legislation introducing a number of measures announced in Australia’s 2022 federal budget has passed parliament, including:

  • Temporary reduction of the excise duty rates and excise-equivalent customs duty rates for fuels, including petrol and diesel and similar petroleum-based products, including oils and grease
  • Temporary levy on offshore petroleum production to recover the costs of decommissioning the Laminaria and Corallina oil fields and associated infrastructure

The temporary reduction of the excise duty rates and excise-equivalent customs duty rates for fuels also received royal assent on 31 March 2022.

 

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