24 Jan 1111 Release of exposure draft legislation for the taxation of alternative fuels
In media release No 2011/017, issued 24 January 2011, the Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, announced the release of draft legislation for public consultation on the Government's reform of the taxation of alternative fuels.
The changes to fuel taxation are being phased in over the period beginning 1 December 2011 and ending 30 June 2015 which allow the alternative fuels industry time to adjust to these changes. Grants to eligible ethanol producers will be phased down until 1 July 2020.
The due date for written submissions is the close of business on Friday 18 February 2011.