Bill
Ozone Protection and Synthetic Greenhouse Gas (Import Levy) Amendment (Carbon Tax Repeal) Bill 2014
passed, as at 2014-07-17. Environment portfolio.
- Sponsor
- Not recorded
- Portfolio
- Environment
Recorded stages
- introduced — 2014-07-14
- second reading — 2014-07-14
- second reading — 2014-07-14
- second reading — 2014-07-14
- third reading — 2014-07-14
- introduced — 2014-07-15
- second reading — 2014-07-15
- second reading — 2014-07-15
- second reading — 2014-07-15
- committee — 2014-07-15
- committee — 2014-07-16
- committee — 2014-07-17
- third reading — 2014-07-17
- passed — 2014-07-17
- royal assent — 2014-07-17
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2014-07-14.
This bill is part of a package that repeals the carbon tax and introduces measures to prevent price exploitation and false representations about the repeal's effect on prices.
The amendments prohibit price exploitation for key goods like electricity and gas, with penalties of up to 6,471 penalty units ($1,100,070) for corporations and 1,295 penalty units ($220,150) for individuals.
Electricity and natural gas retailers and bulk synthetic greenhouse gas importers must provide substantiation statements to the ACCC explaining how cost savings from the repeal are passed on to customers.
- Introduces a new prohibition on carbon-specific price exploitation for certain key goods.
- Requires the ACCC to issue carbon tax removal substantiation notices to retailers and importers.
- Requires retailers and importers to provide carbon tax removal substantiation statements to the ACCC.
- Requires electricity and natural gas retailers to prepare and communicate statements to customers about cost savings.
- Gives the ACCC monitoring powers to assess the effect of the repeal on prices.
- Introduces a prohibition on false or misleading representations about the repeal's effect on prices.
Electricity and natural gas retailers, bulk synthetic greenhouse gas importers, and their customers.
Sources
em
em revised
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