Inquiry into the Excise Legislation Amendment (Condensate) Bill 2008 and the Excise Tariff Amendment (Condensate) Bill 2008
Information about the Inquiry
On 18 June 2008, the Senate referred the provisions of the Excise Legislation Amendment (Condensate) Bill 2008 and the Excise Tariff Amendment (Condensate) Bill 2008 to the Senate Standing Committee on Economics for report not before 26 August 2008, together with the following matters:
- the impact of the changes on retail prices of domestic gas and electricity in Western Australia, and any consequent effect on consumer prices;
- the impact of the decision on the industry generally and on the exploration for petroleum products in Australia; and
- the impact of the decision, and the decision-making process, on domestic and international investment confidence in Australia.
The committee will conduct hearings in Western Australia and hear evidence from industry bodies and joint venture partners on the North West Shelf.
The Excise Legislation Amendment (Condensate) Bill 2008 amends the Excise Act 1901, the Petroleum Excise (Prices) Act 1987, and the Petroleum Revenue Act 1985. These amendments are made to facilitate the policy change outlined in the Excise Tariff Amendment (Condensate) Bill 2008.
The Excise Tariff Amendment (Condensate) Bill 2008 will remove the current exemption of condensate from the crude oil excise. Under the new arrangements, all condensate production from petroleum fields located in the North West Shelf Project area and onshore will be subject to the crude oil excise.
The committee invites written submissions which should be sent to:
Committee Secretary
Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600
Australia
The closing date for submissions is Monday, 7 July 2008.
The committee requests that where possible, submissions should also be provided by email to economics.sen@aph.gov.au preferably as MS Word or RTF format documents. Notes to assist in preparing submissions are available from the website https://www.aph.gov.au/senate/committee/wit_sub/index.htm or telephone the Secretariat on 02 6277 3540, fax: 02 6277 5719, or e-mail at the above address.
Once the committee accepts your submission, it becomes a confidential committee document. Release of your submission without the committee's permission will remove the protection of parliamentary privilege. The committee normally makes submissions public. Please indicate if you want your submission to be kept confidential.
Inquiries from hearing and speech impaired people should be directed to the Parliament House TTY number (02 6277 7799). Adobe also provides tools for the visually impaired to access PDF documents. These tools are available at: http://access.adobe.com/. If you require any special arrangements in order to enable you to participate in a committee inquiry, please contact the secretary.
For further information, consult the committee's website at https://www.aph.gov.au/senate/committee/economics_ctte/inquiries.htm or contact the committee secretary on (02) 6277 3540 (phone), (02) 6277 5719 (fax); or by email to economics.sen@aph.gov.au or by writing to the above address.
For further information, contact:
Committee Secretary
Senate Standing Committees on Economics
PO Box 6100
Parliament House
Canberra ACT 2600
Australia