Commonwealth: Clean Energy Legislation (Carbon Tax Repeal) Act 2014 (Cth)

Clean Energy Legislation (Carbon Tax Repeal) Act 2014 No. 83, 2014 Compilation No. 2 Compilation date: 14 October 2024 Includes amendments: Act No. 38, 2024 About this compilation This compilation This is a compilation of the Clean Energy Legislation (Carbon Tax Repeal) Act 2014 that shows the text of the law as amended and in force on 14 October 2024 (the compilation date). The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law. Uncommenced amendments The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law. Application, saving and transitional provisions for provisions and amendments If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes. Editorial changes For more information about any editorial changes made in this compilation, see the endnotes. Modifications If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law. Self‑repealing provisions If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes. Contents 1 Short title 2 Commencement 3 Schedule(s) Schedule 1—Repeal of the carbon tax Part 1—Repeal of Acts Clean Energy Act 2011 Clean Energy (Charges—Customs) Act 2011 Clean Energy (Charges—Excise) Act 2011 Clean Energy (Unit Issue Charge—Auctions) Act 2011 Clean Energy (Unit Issue Charge—Fixed Charge) Act 2011 Clean Energy (Unit Shortfall Charge—General) Act 2011 Part 2—Amendments A New Tax System (Goods and Services Tax) Act 1999 Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 Australian National Registry of Emissions Units Act 2011 Australian Securities and Investments Commission Act 2001 Clean Energy Regulator Act 2011 Corporations Act 2001 Fuel Tax Act 2006 Fuel Tax (Consequential and Transitional Provisions) Act 2006 Income Tax Assessment Act 1997 National Greenhouse and Energy Reporting Act 2007 Ozone Protection and Synthetic Greenhouse Gas Management Act 1989 Petroleum Resource Rent Tax Assessment Act 1987 Taxation Administration Act 1953 Part 3—Application and transitional provisions Division 1—Preliminary Division 2—Provisions relating to the Clean Energy Act 2011 and associated charge Acts Division 3—Provisions relating to other Acts Division 4—Miscellaneous Division 5—Transitional provisions commencing on Royal Assent Part 4—Jobs and Competitiveness Program Division 1—Preliminary Division 2—Reporting requirements Division 3—Issue of additional free carbon units Division 4—True‑up shortfalls Division 5—Collection of levy Division 6—Miscellaneous Schedule 2—Carbon tax price reduction obligation Competition and Consumer Act 2010 Schedule 3—Repeal of tax offset for conservation tillage Clean Energy (Consequential Amendments) Act 2011 Income Tax Assessment Act 1997 Schedule 4—Repeal of the Steel Transformation Plan Act 2011 Steel Transformation Plan Act 2011 Schedule 5—Australian Renewable Energy Agency's finances Australian Renewable Energy Agency Act 2011 Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history An Act to repeal the Clean Energy Act 2011, and for other purposes 1 Short title This Act may be cited as the Clean Energy Legislation (Carbon Tax Repeal) Act 2014. 2 Commencement (1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms. Commencement information Column 1 Column 2 Column 3 Provision(s) Commencement Date/Details 1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table The day this Act receives the Royal Assent. 17 July 2014 2. Schedule 1, Parts 1 and 2 1 July 2014. 1 July 2014 3. Schedule 1, Part 3, Divisions 1 to 4 1 July 2014. 1 July 2014 4. Schedule 1, Part 3, Division 5 The day this Act receives the Royal Assent. 17 July 2014 5. Schedule 1, Part 4 The day after this Act receives the Royal Assent. 18 July 2014 However, if this Act receives the Royal Assent before 30 June 2014, the provision(s) commence on 1 July 2014. 6. Schedule 2 The later of: 18 July 2014 (a) the day after this Act receives the Royal Assent; and (paragraph (a) applies) (b) 1 January 2014. 7. Schedule 3 The day after this Act receives the Royal Assent. 18 July 2014 8. Schedule 4 1 July 2014. 1 July 2014 9. Schedule 5 The day this Act receives the Royal Assent. 17 July 2014 Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act. (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act. 3 Schedule(s) Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms. Schedule 1—Repeal of the carbon tax Part 1—Repeal of Acts Clean Energy Act 2011 1 The whole of the Act Repeal the Act. Clean Energy (Charges—Customs) Act 2011 2 The whole of the Act Repeal the Act. Clean Energy (Charges—Excise) Act 2011 3 The whole of the Act Repeal the Act. Clean Energy (Unit Issue Charge—Auctions) Act 2011 4 The whole of the Act Repeal the Act. Clean Energy (Unit Issue Charge—Fixed Charge) Act 2011 5 The whole of the Act Repeal the Act. Clean Energy (Unit Shortfall Charge—General) Act 2011 6 The whole of the Act Repeal the Act. Part 2—Amendments A New Tax System (Goods and Services Tax) Act 1999 7 Section 195‑1 Insert: eligible Australian carbon credit unit means: (a) a Kyoto Australian carbon credit unit (within the meaning of the Carbon Credits (Carbon Farming Initiative) Act 2011); or (b) a non‑Kyoto Australian carbon credit unit (within the meaning of that Act) issued in relation to an eligible offsets project (within the meaning of that Act) for a reporting period (within the meaning of that Act), where: (i) if it were assumed that the reporting period had ended before the Kyoto abatement deadline (within the meaning of that Act), a Kyoto Australian carbon credit unit would have been issued in relation to the project for the reporting period instead of the non‑Kyoto Australian carbon credit unit; and (ii) the non‑Kyoto Australian carbon credit unit is not of a kind specified in the regulations; or (c) an Australian carbon credit unit (within the meaning of that Act) of a kind specified in the regulations. Subparagraph (b)(ii) and paragraph (c) do not, by implication, limit the application of subsection 13(3) of the Legislative Instruments Act 2003 to other instruments under this Act. 8 Section 195‑1 (definition of eligible emissions unit) Repeal the definition, substitute: eligible emissions unit means: (a) an *eligible international emissions unit; or (b) an *eligible Australian carbon credit unit. 9 Section 195‑1 Insert: eligible international emissions unit has the same meaning as in the Australian National Registry of Emissions Units Act 2011. Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006 10 Section 5 (definition of carbon unit) Repeal the definition. 11 Subsection 6(2) (paragraph (baa) of the cell at table item 33, column headed "Provision of a designated service") Repeal the paragraph. 12 Subsection 6(2) (paragraph (d) of the cell at table item 33, column headed "Provision of a designated service") Omit "carbon units,". Australian National Registry of Emissions Units Act 2011 13 Section 3 Omit: • Entries may be made in Registry accounts for: (a) carbon units; and (b) Australian carbon credit units; and (c) Kyoto units; and (d) prescribed international units. • This Act sets out rules about dealings with: (a) Kyoto units; and (b) prescribed international units. substitute: • Entries may be made in Registry accounts for: (a) Australian carbon credit units; and (b) Kyoto units. • This Act sets out rules about dealings with Kyoto units. 14 Section 4 (definition of Australian‑issued international unit) Repeal the definition. 15 Section 4 (definition of benchmark average auction charge) Repeal the definition. 16 Section 4 (definition of carbon unit) Repeal the definition. 17 Section 4 (definition of Commonwealth foreign registry account) Repeal the definition. 18 Section 4 (paragraph (d) of the definition of eligible international emissions unit) Omit "rules; or", substitute "rules.". 19 Section 4 (paragraph (e) of the definition of eligible international emissions unit) Repeal the paragraph. 20 Section 4 (definition of European allowance unit) Repeal the definition. 21 Section 4 (definition of European Union Greenhouse Gas Emission Allowance Trading Directive) Repeal the definition. 22 Section 4 (definition of fixed charge year) Repeal the definition. 23 Section 4 (definition of foreign account) Repeal the definition, substitute: foreign account, when used in relation to a Kyoto unit, means an account kept within a foreign Kyoto registry. 24 Section 4 (definition of foreign government body) Repeal the definition. 25 Section 4 (definition of hold) Omit "a carbon unit or". 26 Section 4 (definition of Information Database) Repeal the definition. 27 Section 4 (definition of international arrangement) Repeal the definition. 28 Section 4 (definition of international organisation) Repeal the definition. 29 Section 4 (definition of issue) Repeal the definition, substitute: issue, in relation to an Australian carbon credit unit, has the same meaning as in the Carbon Credits (Carbon Farming Initiative) Act 2011. 30 Section 4 (definition of prescribed international unit) Repeal the definition. 31 Section 4 (definition of quarter) Repeal the definition. 32 Section 4 (paragraph (aa) of the definition of registered holder) Repeal the paragraph. 33 Section 4 (paragraph (b) of the definition of registered holder) Omit "unit; or", substitute "unit.". 34 Section 4 (paragraph (c) of the definition of registered holder) Repeal the paragraph. 35 Section 4 (definition of relinquish) Repeal the definition. 36 Section 4 (definition of transfer) Repeal the definition, substitute: transfer, in relation to a Kyoto unit, has the meaning given by section 33. 37 Section 4 (definition of vintage year) Repeal the definition. 38 Paragraph 9(4)(a) Omit "carbon units, Australian carbon credit units and prescribed international units", substitute "Australian carbon credit units". 39 Paragraph 11(5)(a) Omit "carbon units or". 40 Section 14A Repeal the section. 41 Paragraph 15(2)(aa) Repeal the paragraph. 42 Paragraph 15(2)(c) Omit "account; and", substitute "account.". 43 Paragraph 15(2)(d) Repeal the paragraph. 44 Subparagraph 16(2)(b)(ii) Omit "(4), (5) and (6)", substitute "(4) and (6)". 45 Subsection 16(2A) Repeal the subsection (not including the heading). 46 Subsection 16(5) Repeal the subsection. 47 Paragraph 16(7)(b) Omit "or (5)". 48 Subsection 17(1A) Repeal the subsection. 49 Subsection 17(3) Repeal the subsection. 50 Paragraph 19(3A)(a) Omit "or 49A". 51 Subsection 19(3B) Repeal the subsection. 52 Section 21 Repeal the section. 53 Paragraph 22(4A)(a) Omit "or 49A". 54 Subsection 22(4B) Repeal the subsection. 55 Subparagraph 26(3)(a)(ia) Repeal the subparagraph. 56 Subparagraph 26(3)(a)(ii) Omit "or". 57 Subparagraph 26(3)(a)(iii) Repeal the subparagraph. 58 Paragraph 27(3B)(b) Omit "account; or", substitute "account.". 59 Paragraph 27(3B)(c) Repeal the paragraph. 60 Paragraph 28A(1)(aa) Repeal the paragraph. 61 Paragraph 28A(1)(b) Omit "or". 62 Paragraph 28A(1)(c) Repeal the paragraph. 63 Paragraph 28A(4)(aa) Repeal the paragraph. 64 Paragraph 28B(1)(aa) Repeal the paragraph. 65 Paragraph 28B(1)(b) Omit "or". 66 Paragraph 28B(1)(c) Repeal the paragraph. 67 Paragraph 28B(11)(aa) Repeal the paragraph. 68 Subsection 28B(11) (paragraph (c) of the note) Omit "Act; and", substitute "Act.". 69 Subsection 28B(11) (paragraphs (d) and (e) of the note) Repeal the paragraphs. 70 Paragraph 28C(17)(aa) Repeal the paragraph. 71 Subparagraph 28D(5)(a)(ii) Omit "carbon units or". 72 Paragraph 28D(5)(b) Repeal the paragraph, substitute: (b) a notice to relinquish Australian carbon credit units under section 175 of the Carbon Credits (Carbon Farming Initiative) Act 2011 does not have effect. 73 Paragraph 28D(16)(aa) Repeal the paragraph. 74 Part 4 Repeal the Part. 75 Section 58 Omit: • The Regulator must publish certain information about: (a) the holders of Registry accounts; and (b) carbon units; and (c) Kyoto units; and (d) prescribed international units. substitute: • The Regulator must publish certain information about: (a) the holders of Registry accounts; and (b) Kyoto units. 76 Section 59A Repeal the section. 77 Subsections 61(3) to (6) Repeal the subsections. 78 Section 61A Repeal the section. 79 Sections 63 to 63G Repeal the sections. 80 Section 64 Omit: • If a person is the registered holder of one or more carbon units, the person may request the Regulator to cancel any or all of those units. However, this rule does not apply to a unit that was issued for a fixed charge and has a vintage year that is a fixed charge year. 81 Section 64 Omit: • If a person is the registered holder of one or more prescribed international units, the person may request the Regulator to cancel any or all of those units. 82 Section 64A Repeal the section. 83 Section 66 Repeal the section. 84 Parts 6A and 6B Repeal the Parts. 85 Paragraph 79(1)(c) Omit "27(4);", substitute "27(4).". 86 Paragraph 79(1)(d) Repeal the paragraph. 87 Section 82 (table item 2) Omit "or 53". 88 Section 82 (table item 3) Repeal the item. 89 Section 82 (table items 8 and 9) Omit "or 21". 90 Section 82 (table items 15 and 16) Repeal the items. 91 Section 86A Repeal the section. Australian Securities and Investments Commission Act 2001 92 Paragraph 12BAA(7)(ka) Repeal the paragraph. 93 Paragraph 12BAB(1)(g) Omit "a carbon unit,". 94 At the end of the Act Add: Part 20—Transitional provisions relating to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014 295 Definition In this Part: designated carbon unit day has the same meaning as in Part 3 of Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014. 296 Transitional—carbon units issued before the designated carbon unit day Despite the amendments of this Act made by Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014, this Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made. Clean Energy Regulator Act 2011 95 Section 3 Omit: • The Regulator has such functions as are conferred on it by or under: (a) the Clean Energy Act 2011; and (b) the Carbon Credits (Carbon Farming Initiative) Act 2011; and (c) the National Greenhouse and Energy Reporting Act 2007; and (d) the Renewable Energy (Electricity) Act 2000; and (e) the Australian National Registry of Emissions Units Act 2011. substitute: • The Regulator has such functions as are conferred on it by or under: (a) the Carbon Credits (Carbon Farming Initiative) Act 2011; and (b) the National Greenhouse and Energy Reporting Act 2007; and (c) the Renewable Energy (Electricity) Act 2000; and (d) the Australian National Registry of Emissions Units Act 2011. 96 Section 4 Insert: Climate Change Convention means the United Nations Framework Convention on Climate Change, done at New York on 9 May 1992, as amended and in force for Australia from time to time. Note: The text of the Convention is set out in Australian Treaty Series 1994 No. 2 ([1994] ATS 2). In 2013, the text of a Convention in the Australian Treaty Series was accessible through the Australian Treaties Library on the AustLII website (www.austlii.edu.au). 97 Section 4 (paragraphs (b) to (h) of the definition of climate change law) Repeal the paragraphs. 98 Section 4 Insert: greenhouse gas has the same meaning as in the National Greenhouse and Energy Reporting Act 2007. 99 Section 4 (definition of international agreement) Repeal the definition, substitute: international agreement means an agreement whose parties are: (a) Australia and a foreign country; or (b) Australia and 2 or more foreign countries. 100 Section 4 (definition of international climate change agreement) Repeal the definition, substitute: international climate change agreement means: (a) the Climate Change Convention; or (b) any other international agreement, signed on behalf of Australia, that: (i) relates to climate change; and (ii) imposes obligations on Australia to take action to reduce greenhouse gas emissions; or (c) an international agreement, signed on behalf of Australia, that: (i) relates to climate change; and (ii) is specified in a legislative instrument made by the Minister for the purposes of this definition. 101 Section 4 (paragraph (a) of the definition of objectives of the Regulator) Repeal the paragraph. 102 Section 4 (definition of prescribed international unit) Repeal the definition. 103 Paragraph 41(3)(a) Repeal the paragraph. 104 Paragraph 49(1)(z) Repeal the paragraph, substitute: (z) a person or body responsible for the administration of a scheme that involves the issue or registration of prescribed eligible carbon units; Corporations Act 2001 105 Section 9 (definition of carbon unit) Repeal the definition. 106 Paragraph 764A(1)(kaa) Repeal the paragraph. 107 At the end Chapter 10 Add: Part 10.23—Transitional provisions relating to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014 1542 Definition In this Part: designated carbon unit day has the same meaning as in Part 3 of Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014. 1543 Transitional—carbon units issued before the designated carbon unit day Despite the amendments of this Act made by Schedule 1 to the Clean Energy Legislation (Carbon Tax Repeal) Act 2014, this Act continues to apply, in relation to carbon units issued before the designated carbon unit day, as if those amendments had not been made. 1544 Transitional—variation of conditions on Australian financial services licences Scope (1) This section applies if, as at the end of the designated carbon unit day, an Australian financial services licence is subject to a condition that authorises the financial services licensee to provide financial services in relation to financial products that are carbon units. Variation (2) After that day, subsections 914A(3), (4) and (5) do not apply in relation to a variation of the condition, if the only effect of the variation is to remove the authorisation to provide financial services in relation to financial products that are carbon units. 1545 Transitional—immediate cancellation of Australian financial services licences Section 915B applies, on and after the designated carbon unit day, as if the following subsection was added at the end of the section: Licence relating to carbon units (5) ASIC may cancel an Australian financial services licence held by a person, by giving written notice to the person, if the licence only authorises the person to provide financial services that relate to financial products that are carbon units. 1546 Transitional—statements of reasons for cancellation of Australian financial services licences Section 915G does not apply to a cancellation under subsection 915B(5) (as inserted by section 1545). Fuel Tax Act 2006 108 Section 2‑1 Omit: This Act provides a single system of fuel tax credits. Fuel tax credits are paid to reduce the incidence of fuel tax levied on taxable fuels, ensuring that, generally, fuel tax is effectively only applied to: (a) fuel used in private vehicles and for certain other private purposes; and (b) fuel used on‑road in light vehicles for business purposes. For fuel that is not *covered by the Opt‑in Scheme, the fuel tax credit entitlement is (with some exceptions) reduced by an amount equivalent to what the carbon price on the fuel emissions would be (if those emissions were subject to a carbon price). For fuel that is covered by that Scheme, the entitlement is not so reduced. Fuel tax credits are also provided for fuel for use in aircraft if the fuel is covered by the Opt‑in Scheme. The amount of the credit is limited to the carbon component rate that was factored into the rate of fuel tax. Fuel tax credits are also provided for gaseous fuel that is subject to the carbon pricing mechanism if the fuel is for use in agriculture, fishing operations or forestry. The amount of the credit is the amount of the carbon charge that is embedded in the price of the fuel. substitute: This Act provides a single system of fuel tax credits. Fuel tax credits are paid to reduce or remove the incidence of fuel tax levied on taxable fuels, ensuring that, generally, fuel tax is effectively only applied to: (a) fuel used in private vehicles and for certain other private purposes; and (b) fuel used on‑road in light vehicles for business purposes. 109 Subsection 40‑5(2) After "reduce", insert "or remove". 110 Subsections 40‑5(3) and (4) Repeal the subsections. 111 Section 41‑1 Omit: However, fuel tax credits are denied under Subdivision 41‑B if: (a) another person is already entitled to a fuel tax credit in respect of the fuel; or (b) the fuel is for use on‑road in light vehicles; or (c) the fuel is for use in vehicles that do not meet certain environmental criteria; or (d) the fuel is for use in aircraft, and is not covered by the Opt‑in Scheme. substitute: However, fuel tax credits are denied under Subdivision 41‑B if: (a) another person is already entitled to a fuel tax credit in respect of the fuel; or (b) the fuel is for use on‑road in light vehicles; or (c) the fuel is for use in vehicles that do not meet certain environmental criteria; or (d) the fuel is for use in aircraft. 112 Paragraph 41‑5(3)(b) Omit "vehicle, vessel or aircraft", substitute "vehicle (or vessel)". 113 Subsection 41‑15(1) Omit "this Division, Division 42 or Division 42A" (wherever occurring), substitute "this Division or Division 42". 114 Subparagraph 41‑25(2)(a)(ii) Omit "*agricultural property", substitute "agricultural property". 115 Section 41‑30 (heading) Repeal the heading, substitute: 41‑30 No fuel tax credit for fuel to be used in an aircraft 116 Subsection 41‑30(1) Omit "(1)". 117 Subsection 41‑30(2) Repeal the subsection. 118 Section 41‑35 Repeal the section. 119 Division 42A Repeal the Division. 120 Section 43‑1 Omit: The amount of your credit for taxable fuel is the amount of fuel tax that was payable on the fuel: (a) reduced to take account of certain grants and subsidies that were payable in respect of the fuel (as the grants or subsidies reduced the amount of fuel tax that effectively applied to the fuel); and (b) for fuel that is not covered by the Opt‑in Scheme—reduced (with some exceptions) to take account of what the carbon price on the fuel emissions would be (if those emissions were subject to a carbon price). For fuel for use in aircraft that is covered by the Opt‑in Scheme, the amount of the credit is reduced so that it is limited to the carbon component rate that was factored into the rate of fuel tax. For gaseous fuel that is subject to the carbon pricing mechanism, the amount of the credit is the amount of the carbon charge that is embedded in the price of the fuel. substitute: The amount of your credit for taxable fuel is the amount of fuel tax that was payable on the fuel, reduced to take account of certain grants and subsidies that were payable in respect of the fuel (as the grants or subsidies reduced the amount of fuel tax that effectively applied to the fuel). 121 Subsection 43‑5(1) Repeal the subsection, substitute: (1) The *amount of your tax fuel credit for taxable fuel is the amount of *effective fuel tax that is payable on the fuel. Note: The amount of the credit may be reduced under section 43‑10. 122 Subsections 43‑5(4) and (5) Repeal the subsections. 123 Section 43‑8 Repeal the section. 124 Section 43‑10 (heading) Repeal the heading, substitute: 43‑10 Reducing the amount of your fuel tax credit 125 Subsection 43‑10(1A) Repeal the subsection. 126 Section 43‑11 Repeal the section. 127 Subdivision 43‑B Repeal the Subdivision. 128 Section 110‑5 (definition of agricultural activity) Repeal the definition. 129 Section 110‑5 (definition of agricultural construction activity) Repeal the definition. 130 Section 110‑5 (definition of agricultural property) Repeal the definition. 131 Section 110‑5 (definition of agricultural soil/water activity) Repeal the definition. 132 Section 110‑5 (definition of agricultural waste activity) Repeal the definition. 133 Section 110‑5 (definition of agriculture) Repeal the definition. 134 Section 110‑5 (definition of approved catchment area) Repeal the definition. 135 Section 110‑5 (definition of carbon reduction) Repeal the definition. 136 Section 110‑5 (definition of CNG) Repeal the definition. 137 Section 110‑5 (definition of core agricultural activity) Repeal the definition. 138 Section 110‑5 (definition of covered by the Opt‑in Scheme) Repeal the definition. 139 Section 110‑5 (definition of earthworks) Repeal the definition. 140 Section 110‑5 (definition of fish) Repeal the definition. 141 Section 110‑5 (definition of fishing operations) Repeal the definition. 142 Section 110‑5 (definition of forestry) Repeal the definition. 143 Section 110‑5 (definition of half‑year) Repeal the definition. 144 Section 110‑5 (definition of horticulture) Repeal the definition. 145 Section 110‑5 (definition of livestock) Repeal the definition. 146 Section 110‑5 (definition of livestock activity) Repeal the definition. 147 Section 110‑5 (definition of LNG) Repeal the definition. 148 Section 110‑5 (definition of pearling operations) Repeal the definition. 149 Section 110‑5 (definition of port) Repeal the definition. 150 Section 110‑5 (definition of processing of fish) Repeal the definition. 151 Section 110‑5 (definition of public authority) Repeal the definition. 152 Section 110‑5 (definition of renewable diesel) Repeal the definition. 153 Section 110‑5 (definition of sundry agricultural activity) Repeal the definition. 154 Section 110‑5 (definition of taxable fuel) Repeal the definition, substitute: taxable fuel means fuel in respect of which duty is payable under: (a) the Excise Act 1901 and the Excise Tariff Act 1921; or (b) the Customs Act 1901 and the Customs Tariff Act 1995; but does not include fuel covered by: (c) item 15, 20 or 21 of the Schedule to the Excise Tariff Act 1921; or (d) any imported goods that would be classified to item 15 of the Schedule to the Excise Tariff Act 1921, if the goods had been manufactured in Australia. Note: Item 15 of the Schedule to the Excise Tariff Act 1921 deals with certain petroleum based oils and greases. Item 20 of that Schedule deals with certain stabilised crude petroleum oils. Item 21 of that Schedule deals with certain condensate. Fuel Tax (Consequential and Transitional Provisions) Act 2006 155 Subitem 12(2A) of Schedule 3 Repeal the subitem. Income Tax Assessment Act 1997 156 Section 12‑5 (table item headed "clean energy") Repeal the item. 157 Section 26‑18 Repeal the section. 158 Section 104‑5 (table item relating to CGT event K1, column headed "Event number and description") Omit "*carbon unit, an *international emissions unit", substitute "*Kyoto unit". 159 Subparagraphs 104‑205(1)(a)(i) and (ii) Repeal the subparagraphs. 160 Subparagraph 104‑205(1)(a)(iii) Omit "an *international emissions unit", substitute "a *Kyoto unit". 161 Subparagraph 104‑205(1)(a)(iv) Omit "an *international emissions unit", substitute "a Kyoto unit". 162 Section 112‑97 (table item 18A, column headed "In this situation") Omit "an *international emissions unit", substitute "a *Kyoto unit". 163 Subsection 118‑15(2) Repeal the subsection. 164 Paragraph 420‑10(a) Repeal the paragraph. 165 Paragraph 420‑10(c) Repeal the paragraph. 166 Subsection 420‑15(1) (note) Repeal the note. 167 Subsection 420‑15(3) Repeal the subsection. 168 Subsection 420‑20(3) Repeal the subsection (not including the note), substitute: (3) This section does not apply to the issue of an *Australian carbon credit unit under the Carbon Credits (Carbon Farming Initiative) Act 2011. 169 Subparagraphs 420‑21(1)(a)(i) and (ii) Repeal the subparagraphs. 170 Subparagraph 420‑21(1)(a)(iii) Omit "an *international emissions unit", substitute "a *Kyoto unit". 171 Subparagraph 420‑21(1)(a)(iv) Omit "an international emissions unit", substitute "a Kyoto unit". 172 Subsection 420‑21(1) (example) Omit "of international emissions unit", substitute "of Kyoto unit". 173 Subparagraphs 420‑21(2)(a)(i) and (ii) Repeal the subparagraphs. 174 Subparagraph 420‑21(2)(a)(iii) Omit "an *international emissions unit", substitute "a *Kyoto unit". 175 Subparagraph 420‑21(2)(a)(iv) Omit "an international emissions unit", substitute "a Kyoto unit". 176 Subparagraph 420‑35(b)(i) Repeal the subparagraph. 177 Subparagraph 420‑35(b)(ii) Omit "an *international emissions unit", substitute "a *Kyoto unit". 178 Section 420‑35 (example) Omit "of international emissions unit", substitute "of Kyoto unit". 179 Section 420‑43 Repeal the section. 180 Subsection 420‑51(1) Omit "(1)". 181 Subsection 420‑51(2) Repeal the subsection. 182 Subparagraph 420‑52(a)(i) Repeal the subparagraph. 183 Paragraph 420‑52(b) Repeal the paragraph. 184 Subsection 420‑55(6) Repeal the subsection. 185 Subsection 420‑57(9) Repeal the subsection. 186 Section 420‑58 Repeal the section. 187 Subsections 420‑60(1) and (2) Repeal the subsections. 188 Subsection 420‑60(4) Omit all the words from and including "If a *registered" to and including "cost of the unit", substitute "The cost of a *registered emissions unit (other than an *Australian carbon credit unit)". 189 Subsection 420‑65(3) Repeal the subsection. 190 Subsection 420‑70(3) Repeal the subsection. 191 Subsection 995‑1(1) (definition of carbon unit) Repeal the definition. 192 Subsection 995‑1(1) (definition of free carbon unit) Repeal the definition. 193 Subsection 995‑1(1) (definition of international emissions unit) Repeal the definition. 194 Subsection 995‑1(1) (definition of prescribed international unit) Repeal the definition. 195 Subsection 995‑1(1) (definition of vintage year) Repeal the definition. National Greenhouse and Energy Reporting Act 2007 196 Section 3 (heading) Repeal the heading, substitute: 3 Object 197 Subsection 3(1) Omit "(1) The first object", substitute "The object". 198 Subsection 3(2) Repeal the subsection. 199 Subsection 4(1) Omit "(1) This Act (except to the extent to which it underpins the Clean Energy Act 2011)", substitute "This Act". 200 Subsection 4(2) Repeal the subsection. 201 Subsection 5(1) Omit "(1)". 202 Before subparagraph 5(1)(a)(ii) Insert: (i) greenhouse gas emissions; or 203 Subsection 5(2) Repeal the subsection. 204 Section 7 (definition of carbon dioxide equivalence) Repeal the definition, substitute: carbon dioxide equivalence, of an amount of greenhouse gas, means the amount of the gas multiplied by a value specified in the regulations in relation to that kind of greenhouse gas. 205 Section 7 Insert: designated financial year means: (a) the financial year beginning on 1 July 2012; or (b) a later financial year. 206 Section 7 (definition of designated fuel) Repeal the definition. 207 Section 7 (definition of eligible financial year) Repeal the definition. 208 Section 7 (definition of emissions number) Repeal the definition. 209 Section 7 (definition of financial control liability transfer certificate) Repeal the definition. 210 Section 7 (definition of fixed charge year) Repeal the definition. 211 Section 7 (definition of foreign country) Repeal the definition, substitute: foreign country includes a region where: (a) the region is a colony, territory or protectorate of a foreign country; or (b) the region is part of a foreign country; or (c) the region is under the protection of a foreign country; or (d) a foreign country exercises jurisdiction or control over the region; or (e) a foreign country is responsible for the region's international relations. 212 Section 7 Insert: foreign corporation means a corporation that: (a) is incorporated outside Australia; or (b) is an authority of a foreign country. 213 Section 7 (definition of foreign person) Repeal the definition. 214 Section 7 Insert: group entity means a corporation that is a member of a controlling corporation's group. 215 Section 7 (definition of interim emissions number) Repeal the definition. 216 Section 7 (definition of liable entity) Repeal the definition. 217 Section 7 (definition of liquefied natural gas) Repeal the definition. 218 Section 7 (definition of liquefied petroleum gas) Repeal the definition. 218A Section 7 (definition of local governing body) Repeal the definition. 219 Section 7 (definition of natural gas supplier) Repeal the definition. 220 Section 7 (definition of non‑group entity) Repeal the definition. 221 Section 7 (definition of operational control) Omit "11A, 11B or 11C", substitute "11A or 11B". 222 Section 7 (definition of Opt‑in Scheme) Repeal the definition. 223 Section 7 (definition of OTN) Repeal the definition. 224 Section 7 (definition of person) Repeal the definition. 225 Section 7 (definition of potential greenhouse gas emissions) Repeal the definition. 226 Section 7 (definition of provisional emissions number) Repeal the definition. 227 Section 7 (definition of supply) Repeal the definition. 228 Section 7 (definition of taxable fuel) Repeal the definition. 229 Section 7 (definition of trust) Repeal the definition. 230 Section 7 (definition of trustee) Repeal the definition. 231 Section 7 (definition of trust estate) Repeal the definition. 232 Section 7 (definition of unit shortfall charge) Repeal the definition. 233 Subsection 7A(1) Omit "and the Clean Energy Act 2011". 234 Sections 7B and 7C Repeal the sections. 235 Subsection 8(1) Omit "and the Clean Energy Act 2011". 236 Subsection 9(1) Omit "and the Clean Energy Act 2011". 237 Paragraph 9(1)(b) Omit "or 54A". 238 Section 10 (heading) Repeal the heading, substitute: 10 Emissions, energy production, energy consumption etc. 239 Subsection 10(1) Omit "or the Clean Energy Act 2011". 240 Subsection 10(3) Omit "and the Clean Energy Act 2011". 241 Subsections 10(4) to (9) Repeal the subsections. 242 Subsection 11(1) Omit "and the Clean Energy Act 2011". 243 Subsection 11(1) Omit "person" (wherever occurring), substitute "group entity". 244 Paragraph 11(1)(b) Omit "or 55A". 245 Subsection 11(3) Omit "and the Clean Energy Act 2011". 246 Subsection 11(3) Omit "person", substitute "group entity". 247 Subsection 11(4) Omit "11A, 11B and 11C", substitute "11A and 11B". 248 Section 11A (heading) Repeal the heading, substitute: 11A Operational control—group entity with greatest authority 249 Subsection 11A(1) Omit "an eligible financial year", substitute "a designated financial year". 250 Paragraph 11A(1)(a) Omit "persons", substitute "group entities". 251 Paragraph 11A(1)(b) Omit "person", substitute "group entity". 252 Paragraph 11A(1)(c) Omit "or 55A". 253 Subsection 11A(2) Omit "person", substitute "group entity". 254 Subsection 11A(2) Omit "and the Clean Energy Act 2011". 255 Section 11B (heading) Repeal the heading, substitute: 11B Operational control—nominated group entity 256 Paragraph 11B(1)(a) Omit "more persons", substitute "more group entities". 257 Paragraph 11B(1)(a) Omit "relevant persons", substitute "relevant group entities". 258 Paragraph 11B(1)(b) Omit "person", substitute "group entity". 259 Paragraph 11B(1)(c) Omit "or 55A". 260 Paragraph 11B(1)(d) Omit "an eligible financial year", substitute "a designated financial year". 261 Subsection 11B(2) Omit "persons", substitute "group entities". 262 Subsection 11B(2) Omit "person", substitute "group entity". 263 Paragraph 11B(4)(a) Omit "persons is a foreign person", substitute "group entities is a foreign corporation". 264 Paragraph 11B(4)(b) Omit "persons is not a foreign person", substitute "group entities is not a foreign corporation". 265 Subsection 11B(4) Omit "foreign person cannot", substitute "foreign corporation cannot". 266 Paragraph 11B(5)(b) Omit "persons", substitute "group entities". 267 Subsection 11B(7) Repeal the subsection. 268 Subsection 11B(8) Omit "eligible financial year" (wherever occurring), substitute "designated financial year". 269 Subsection 11B(10) Omit "person" (wherever occurring), substitute "group entity". 270 Paragraph 11B(15)(b) Omit "and". 271 Paragraph 11B(15)(c) Repeal the paragraph. 272 Subsection 11B(15) Omit "person", substitute "group entity". 273 Subsection 11B(16) Repeal the subsection. 274 Paragraph 11B(17)(b) Omit "and". 275 Paragraph 11B(17)(c) Repeal the paragraph. 276 Subsection 11B(17) Omit "persons", substitute "group entities". 277 Subsections 11B(18) and (19) Repeal the subsections. 278 Subsection 11B(21) Repeal the subsection, substitute: Exceptions (21) A group entity is not required to comply with subsection (20) if the question of who has operational control of the facility is not relevant (whether directly or indirectly) to a requirement under this Act. 279 Subsection 11B(22) Omit "person", substitute "group entity". 280 Subsection 11B(22) Omit "or 55A". 281 Section 11C Repeal the section. 282 Paragraph 11D(1)(c) Repeal the paragraph. 283 Paragraphs 11D(1)(e) and (f) Repeal the paragraphs, substitute: (e) at any time during the preceding 5 years, the person has breached a civil penalty provision of this Act; or (f) if the person is a body corporate—at any time during the preceding 5 years, an executive officer of the body corporate has breached a civil penalty provision of this Act; or 284 Paragraphs 11D(1)(i) and (j) Repeal the paragraphs, substitute: (i) the person has been convicted of an offence against this Act; or (j) if the person is a body corporate—an executive officer of the body corporate has been convicted of an offence against this Act. 285 Subdivision A of Division 1 of Part 2 (heading) Repeal the heading. 286 Subsections 13(2) and (3) Omit "member of a controlling corporation's group", substitute "group entity". 287 Subsection 13(4) Repeal the subsection. 288 Subdivision B of Division 1 of Part 2 Repeal the Subdivision. 289 Division 4 of Part 2 Repeal the Division. 290 Paragraph 18B(3)(b) Repeal the paragraph. 291 Subsection 19(1) (note 4) Repeal the note. 292 Subsection 19(4) Repeal the subsection. 293 Paragraphs 22(1)(a) and (b) Omit "(other than Part 3A or 3D)". 294 Paragraphs 22(2)(a) and (b) Omit "(other than Part 3A or 3D)". 295 Parts 3A and 3D Repeal the Parts. 296 Paragraph 22X(1)(a) Repeal the paragraph, substitute: (a) a facility is under the operational control of a member (the responsible member) of a controlling corporation's group during the whole or a part of a financial year; and 297 Subsection 24(1AA) Repeal the subsection. 298 Subsection 24(1AD) Omit "22E or". 299 Paragraph 24(1AE)(a) Omit "22E(2)(b) or". 300 Subsection 24(1H) Omit "22E or". 301 Subsection 24(1J) Omit "or financial control liability transfer certificate". 302 Subsection 24(8) Omit "22E or". 303 Subsection 25(1) Omit "22G, a person required to provide information under section 20, or a person required to provide a report under section 22A, 22AA, 22E or 22X", substitute "22G or 22X, or a person required to provide information under section 20,". 304 Subsection 30(2A) Omit "11C, 15A, 15AA, 22A, 22AA, 22E, 22X, 74AA", substitute "22X". 305 Section 54A Repeal the section. 306 Section 55A Repeal the section. 307 Paragraphs 56(aab), (aa), (ga) and (gb) Repeal the paragraphs. 308 Paragraph 56(j) Omit "75A;", substitute "75A." 309 Paragraphs 56(k) and (l) Repeal the paragraphs. 310 Section 74AA Repeal the section. 311 Subsection 74B(1) Repeal the subsection, substitute: (1) For the purposes of this section, a person is a relevant person if: (a) the person is the responsible member mentioned in subsection 22X(1); and (b) the person is not a registered corporation; and (c) the Regulator has reasonable grounds to suspect that the person has contravened, is contravening, or is proposing to contravene, this Act or the regulations. 312 Subsection 74C(1) Repeal the subsection, substitute: (1) For the purposes of this section, a person is a relevant person if the person: (a) is the responsible member mentioned in subsection 22X(1); and (b) is not a registered corporation. Ozone Protection and Synthetic Greenhouse Gas Management Act 1989 313 Paragraphs 65C(1)(aa), (ab) and (ac) Omit "equal to the prescribed rate component of an amount of levy". 314 Subsections 65C(4), (5) and (6) Repeal the subsections. 315 Sections 69AA to 69AD Repeal the sections. Petroleum Resource Rent Tax Assessment Act 1987 316 Subparagraph 28(1)(b)(iii) Omit "expenditure;", substitute "expenditure.". 317 Paragraph 28(1)(c) Repeal the paragraph. 318 Paragraph 44(1)(ia) Repeal the paragraph. Taxation Administration Act 1953 319 Subsection 355‑65(7) in Schedule 1 (table item 3) Repeal the item. Part 3—Application and transitional provisions Division 1—Preliminary 320 Objects (1) The main objects of this Part are: (a) to provide for the winding‑up of the carbon tax scheme; and (b) to ensure that carbon tax liabilities relating to: (i) the financial year beginning on 1 July 2012; or (ii) the financial year beginning on 1 July 2013; can be administered, collected and recovered after the start of 1 July 2014; and (c) to ensure that liable entities can take steps, after the start of 1 July 2014, to avoid being liable to pay unit shortfall charge in relation to the financial year beginning on 1 July 2013; and (d) to ensure that, after the start of 1 July 2014, the Regulator can issue carbon units that are required for the financial year beginning on 1 July 2013; and (e) to continue, after the start of 1 July 2014, the carbon tax related rights and obligations of liable entities, so far as those rights and obligations relate to: (i) the financial year beginning on 1 July 2012; or (ii) the financial year beginning on 1 July 2013. (2) The other objects of this Part are: (a) to ensure the validity of any carbon units issued as the result of an auction conducted before 1 July 2014; and (b) to cancel any carbon units that are not required for the financial year beginning on 1 July 2013; and (c) to ensure that, while carbon units remain in existence, the units remain subject to other Commonwealth laws. 321 Definitions In this Part: designated carbon unit day has the meaning given by item 322. Registry has the same meaning as in the Australian National Registry of Emissions Units Act 2011. Registry account has the same meaning as in the Australian National Registry of Emissions Units Act 2011. Regulator means the Clean Energy Regulator. 322 Designated carbon unit day (1) For the purposes of this Part, designated carbon unit day means: (a) 9 February 2015; or (b) if a later day is specified in an instrument under subitem (2)—that later day. (2) The Regulator may, by legislative instrument, specify a day for the purposes of paragraph (1)(b). (3) The Regulator must not make an instrument under subitem (2) unless the Regulator has made a determination under subsection 142(3) of the Clean Energy Act 2011 that relates to 2 February 2015. Note: Subsection 142(3) of the Clean Energy Act 2011 enables the Regulator to extend the 2 February 2015 surrender deadline. See also item 345A (deadlines of 1 February and 15 June). Division 2—Provisions relating to the Clean Energy Act 2011 and associated charge Acts 323 Winding‑up of the carbon tax scheme—recovery of liabilities attributable to pre‑1 July 2014 emissions etc. (1) Despite the repeal of the Clean Energy Act 2011 by this Schedule, that Act continues in force, subject to: (a) this Part; and (b) the modifications set out in the following table; as if that repeal had not happened. Modifications of the Clean Energy Act 2011 Item Provision Modification 1 section 4 Omit the section. 2 section 5 (definitions of average carbon unit auction price, benchmark average auction charge, carbon pollution cap, carbon pollution cap number, designated limit, and designated limit percentage) Omit the definitions. 3 section 5 (definition of eligible financial year) Omit the definition, substitute: eligible financial year means: (a) the financial year beginning on 1 July 2012; or (b) the financial year beginning on 1 July 2013. 4 section 5 (definition of fixed charge year) Omit the definition, substitute: fixed charge year means: (a) the financial year beginning on 1 July 2012; or (b) the financial year beginning on 1 July 2013. 5 section 5 (definitions of flexible charge year and per‑tonne carbon price equivalent) Omit the definitions. 6 section 5 (definition of unit shortfall) Omit "128, 129 or 133", substitute "128 or 129". 7 section 5 (definition of vintage year) Omit "eligible". 8 Part 2 Omit the Part. 9 subsections 26(2), 27(2) and 28(2) Omit all the words after "is taken to be", substitute "zero". 10 Subdivision A of Division 4 of Part 3 The Regulator must not issue an OTN under the Subdivision on or after 1 July 2014. 11 sections 42 and 43 Omit the sections. 12 section 43A The section ceases to have effect at the end of 30 June 2015. 13 subsection 45(3) The subsection ceases to have effect at the end of 30 June 2015. 14 subsections 45(4) to (13) The subsections cease to have effect at the start of 1 September 2014. 15 subsection 46(1) The subsection has effect, on and after 1 September 2014, as if the words "(as it stood at a particular time before the start of 1 September 2014)" were inserted after "OTN Register". 16 section 47 The section ceases to have effect at the start of 1 August 2014. 17 section 64B Omit the section. 18 paragraph 64F(1)(b) Omit the paragraph. 19 subsection 66(4) The subsection ceases to have effect at the start of 1 August 2014. 20 section 70 The Regulator must not make a declaration under the section on or after 1 July 2014. 21 section 71A Omit the section. 22 section 72 The Regulator must not give a notice under the section on or after 1 July 2014. 24 section 83 The Regulator must not issue a certificate under the section on or after 1 July 2014. 25 section 87 The Regulator must not issue a certificate under the section on or after 1 July 2014. 26 sections 89 and 90 Omit the sections. 27 section 93 Omit the section. 28 subsection 96(2) Omit "eligible". 29 section 97 (note) Omit the note. 30 subsection 100(1) (table items 5, 6, 7, 8 and 9) Omit the table items. 31 subsection 100(2) Omit the subsection. 32 subsection 100(3) (heading) Omit "1, 3 and 5", substitute "1 and 3". 33 subsection 100(3) Omit "1, 3 or 5", substitute "1 or 3". 34 subsection 100(4) (heading) Omit "2, 4, 6, 7, 8 and 9", substitute "2 and 4". 35 subsection 100(4) Omit "2, 4, 6, 7, 8 or 9", substitute "2 or 4". 36 subsections 100(9), (14) and (15) Omit the subsections. 37 sections 101 and 102 Omit the sections. 38 sections 108 and 109 Omit the sections. 39 section 114 Omit the section. 40 Division 1 of Part 6 Omit the Division. 41 subsection 122(1) Omit "during an eligible financial year". 42 subsections 122(3), (4), (5), (9) and (11) Omit the subsections. 43 sections 123 and 123A Omit the sections. 44 paragraph 128(7)(d) Before "this Division", insert "if the eligible financial year began on 1 July 2012—". 45 Subdivision B of Division 3 of Part 6 Omit the Subdivision. 46 subsection 134(3) Omit the subsection. 47 subsection 134A(3) (paragraph (b) of the definition of applicable amount for the financial year) Omit the paragraph. 48 paragraphs 142(3)(c), (e) and (f) Omit the paragraphs. 48A section 144 Omit the section. 49 paragraph 145(5)(b) Omit the paragraph. 50 paragraph 145(5)(c) Omit the paragraph, substitute: (c) the principle that changes should not have a negative effect on recipients of assistance under the Jobs and Competitiveness Program; 51 Division 5 of Part 7 Omit the Division. 52 section 160