OLD LAW:
The rate of excise duty for domestically manufactured biodiesel is the same as the excise rate for diesel
NEW LAW:
The rate of excise duty for domestically manufactured biodieselis reduced to zero on 1July2015.
The excise rate is then set in later financial years as a percentage of theexcise rate for diesel, as follows:
•
10% for the financial year starting on 1 July 2016
•
20% for the financial year starting on 1 July 2017
•
30% for the financial year starting on 1 July 2018
•
40% for the financial year starting on 1 July 2019
and
•
50% for the financial year starting on 1 July 2020
and later financial years
* I Think the new law will improve ARW financial position
* I hope I am right
No advice intended
TEK Price at posting:
9.0¢ Sentiment: None Disclosure: Held
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