In a media release the Finance Minister has announced he will be Implementing the Fuel Excise Indexation announced in the Budget, even though it looks like the government cannot get the amendment through the Senate.
He will effectively tell the Commissioner of Taxation to raise the Fuel Excise rate and promise to get the law through the Parliament in the next 12 months justifying legislatively this change.
Tax law changes without law changes? I feel very uncomfortable about this, even though the previous government did the same with the Alcopops tax rate rise.
If this all goes pear shaped and the law is not passed the excise must be refunded, meaning a windfall gain for those who pay the excise (not you and me but the petrol companies).
(And don’t get me started on the Greens as this indexation was their policy until Tony Abbott suggests it and then they block it. And for any Greens voters, the argument that they blocked it as some of it would be used for roads funding is:
– firstly prove the Greens cannot read the constitution as all funds go to consolidated revenue and then get spent; and
– secondly some of the revenue of the Carbon Tax was used for roads funding… Hypocrites)