Edition 45, June 2007

Reducing excise compliance costs for business

The Australian Government will implement two new measures aimed at reducing compliance costs for businesses which are either licenced manufacturers of goods attracting excise, or importers of equivalent products.

These products include fuel, alcohol (other than wine) and tobacco.

The first measure will allow authorised small businesses to settle their excise and excise-equivalent customs duties monthly, with eligibility linked to the Government's Small Business Alignment Framework, as announced by the Treasurer and Minister for Small Business and Tourism on 13 November 2006.

The second measure changes the rules concerning eligibility for refunds, remissions and drawbacks of excise and excise-equivalent custome duty, and will allow all excise and excise-equivalent imported goods to be eligible for a refund of duty when they are returned to a place licensed for the goods, or destroyed with the prior approval of the relevant administering authority.

However, to be eligible for a refund, the goods must be identifiable as being the items on which duty was originally paid.

Implementation of both measures will require changes to legislation and will take effect from 1 January 2008, or the date the enabling legislation receives Royal Assent, whichever is the later.

For more information visit www.ausindustry.gov.au

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