Under this government petrol tax has increased from 35c to 49c....
Not sure where your 35c starting point comes from under this government, care to explain.
Reintroduction of fuel excise indexation
Budget Review 2014–15
Richard Webb
The Government announced that it would reintroduce the biannual indexation of fuel excise to changes in the consumer price index (CPI). Indexation will apply to the general rate of excise (and customs duty) which is now 38.143 cents per litre (cpl). In 2014-15, indexation will add about one cpl to this rate. The main fuels affected will be petrol and diesel.
The additional revenue over the forward estimates is $4.15 billion. This will be offset, in part, by rebates paid under the Fuel Tax Credits Scheme (FTCS).The FTCS provides (fully or in part) rebates of excise paid on fuel used in certain activities including in agriculture and mining.
Indexation will maintain the real value of the rate. Non-indexation has eroded the tax base; had indexation continued, the rate would now be about 55cpl, that is, 17 cpl higher. Non-indexation may also have had other effects such as encouraging the purchase of relatively fuel-inefficient cars.
Past reviews have recommended the reintroduction of indexation. The Fuel Tax Inquiry recommended:
… the reintroduction of twice yearly fuel excise indexation to preserve the real value of fuel taxation revenue. If fuel taxation is to continue as a source of revenue for government, it should not be eroded by inflation over time.
(Then because of cost of living pressures
Scomo and little Joshie gave the plebs this
time limited vote buying relief which would lose approx. $2.65 billion in excise revenue over six months)
As part of the Federal Government’s 2022 Federal Budget unveiling, the government’s excise on fuel will be halved, saving motorists 22.1 cents per litre of unleaded and diesel fuel. The initiative was announced and came into effect at midnight on March 29, and will stay in place for six months to September 28.
Took away the $1500 tax off set.....
Did they really?
By Daniel Jeffrey
May 6, 2023
The temporary LMITO was introduced in the 2018-19 budget, extended during the pandemic, and then increased by the Morrison government (and supported by the then-opposition) during its pre-election March 2022 budget for a single year.
Neither Labor nor the Coalition had ever planned for it to be retained for 2022-23 or beyond.
increased fuel/beer/spirits and smokes....
The ATO explains on its website, the alcohol excise typically increases automatically every February and August — regardless of which party is in power.
These increases are simply a reflection of inflation, or the rising cost of living.
"The law indexes the excise duty rates for alcohol twice a year, based on the upward movement of the consumer price index (CPI)."
"The Australian Bureau of Statistics ... is responsible for determining and publishing the CPI which provides the basis for indexation."
As for your smokes...
Successive Governments have legislated a series of excise rate increases in recent years, beginning with a one-off 25 per cent increase effective from 29 April 2010, followed by two successive four-year periods of 12.5 per cent annual increases from 2013 to 2020. These are in addition to the bi-annual indexation of the excise rate, which was to CPI until 1 March 2014, when it was re-indexed to Average Weekly Ordinary Time Earnings (AWOTE).
You seem to be a one man band in your
as you say "circle jerk idiots"
