Taxation: Alternative Fuels: Government proposes reform

Bill Shorten (the Assistant Treasurer), today (24 January 2011) released draft legislation for public consultation on the Government’s reform of the taxation of alternative fuels. 

According to the Assistant Treasurer:

“The draft legislation is consistent with the Government’s long standing plan to bring alternative fuels into the fuel taxation regime, with a 50% tax discount compared to regular petrol on an energy equivalent basis. It reflects the Howard Government policy announced in the 2004-05 Budget, as well as the changes announced by the Government in the 2010-11 Budget and as part of the agreement with independent MPs, to recognise the special characteristics of the ethanol industry,” 

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