Excise Tariff Act 1921

If the indexation factor for an indexation day is greater than 1, each CPI indexed rate is, on that day, replaced by the rate of duty worked out using the formula:

For indexation factor see subsection (3). For CPI indexed rate and indexation day see subsection (10).

The amount worked out under subsection (1) is to be rounded to the same number of decimal places as the CPI indexed rate was on the day before the indexation day (rounding up if the next decimal place is 5 or more).

The indexation factor for an indexation day is the number worked out using the formula:

For index number, reference quarter and base quarter see subsection (10).

The indexation factor is to be worked out to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

If the index number for the most recent reference quarter before the indexation day is published by the Statistician on a day (the publication day) that is not at least 5 days before the indexation day, then, despite subsection (1), any replacement of a CPI indexed rate under subsection (1) happens on the fifth day after the publication day.

If an Excise Tariff alteration proposed in the Parliament proposes to substitute, on and after a particular day, a rate for a CPI indexed rate, treat that substitution as having had effect on and after that day for the purposes of this section.

Amounts are to be worked out under this section:

using only the index numbers published in terms of the most recently published index reference period for the Consumer Price Index; and

disregarding index numbers published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period).

If a CPI indexed rate is replaced under this section on a particular day, the replacement rate applies in relation to goods entered for home consumption on or after that day.

The CEO must, on or as soon as practicable after the day a CPI indexed rate is replaced under this section, publish a notice in the Gazette advertising the replacement rate and the goods it applies to.

In this section:

before the most recent reference quarter before the indexation day; and

after the June quarter of 1983.

a rate of duty set out in item 1, 2 or 3 of the Schedule; or

a rate of duty set out in item 10 of the Schedule, other than in:

subitem 10.6 or 10.17; or

subitem 10.7, 10.12, 10.20, 10.21 or 10.30; or

the rate set out in step 3 of the method statement in subsection 6G(1) (about duty payable on blended goods).