Northern Territory Second Reading Speeches
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ENERGY RESOURCES CONSUMPTION LEVY (WAIVER OF LEVY) BILL 1998
(This an uncorrected proof of the daily report. It is made available under the condition that it is recognised as such.)
Bill presented and read a first time.
Mr REED (Treasurer): Madam Speaker, I move that the bill be now read a second time.
The purpose of this bill is to suspend the liability to pay the levy imposed under the Energy Resources Consumption Levy Act. In effect, it provides for a zero rate to apply from 1 July 1998, and thus implements the measure announcement in the 1998-99 budget. This measure will provide assistance to miners operating in remote locations in the Territory. Given some of the difficulties recently faced by miners, such as declining commodity values and a weaker Australian dollar, this measure comes at a particularly opportune time. In providing this assistance, the government will forgo approximately $500 000 annually. The Energy Resource Consumption Levy (Waiver of Levy) Bill provides for:
(1) The suspension of the liability to pay the current rate of levy with effect from 1 July 1998;
(2) the suspension of the requirement for registered consumers to lodge returns during the period of zero rating; and
(3)the suspension of the requirement for new consumers to register during the period of zero rating.
I commend the bill to honourable members.
Debate adjourned
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