Custom's Tariff Amendment (Cost of Living Support) Bill 2022

Temporary reduction in fuel price

In accordance with the budget speech and announcements relative to International Trade & Logistics last Tuesday, 29th March 2022, there will be a temporary 50% reduction in the excise and excise equivalent fuel duty rates for all other fuel and petroleum-based products (excluding aviation fuels) which focus on addressing the cost of living pressures. The temporary reduction period would apply from 30 March 2022 to 29 September 2022.

The Bills for this measure were introduced into the House of Representatives on 30th March 2022. The ACN explains how the rate reduction will work. It will commence if the Bills pass the Parliament and receive the Royal Assent. Should this not occur, a further Australian Customs Notice will be issued.

If you have any questions, please do not hesitate to reach an Image International Freight representative, sales@imageinternational.com.au or call +61 2 9773 1378.