Document ID: chunk:federal_register_of_legislation:F2022C00013:reg:5
Version: federal_register_of_legislation:F2022C00013
Segment Type: reg
Provision Reference: reg 5
Character Range: 3752–5808

5  Amount of charge imposed on the importation of emissions‑controlled products
 (1) This section is made for the purposes of section 6 of the Act.

Person has not passed the importation threshold
 (2) If:
 (a) a person imports an emissions‑controlled product at a particular time in a financial year; and
 (b) at that time, the person has not passed the importation threshold for the financial year;
the amount of the charge imposed on the importation of the product is nil.

Person passes the importation threshold
 (3) If:
 (a) a person imports an emissions‑controlled product at a particular time in a financial year; and
 (b) at that time, the person passes the importation threshold for the financial year;
the amount of the charge imposed on the importation of the product is to be worked out using the following formula:
where:
total product value means the sum of the product values of each emissions‑controlled product that the person has imported at the time the person passes the importation threshold for the financial year.

Person has already passed the importation threshold
 (4) If:
 (a) a person imports an emissions‑controlled product at a particular time in a financial year; and
 (b) at that time, the person has already passed the importation threshold for the financial year;
the amount of the charge imposed on the importation of the product is to be worked out by multiplying the product value of the product by 0.0033.

Passes the importation threshold
 (5) A person who imports an emissions‑controlled product at a particular time in a financial year passes the importation threshold for the financial year if the sum of the following amounts is more than $44,000:
 (a) the product value of the product;
 (b) the sum of the product values of any other emissions‑controlled products previously imported by the person in the financial year.

Rounding
 (6) An amount worked out under subsection (3) or (4) is to be rounded to the nearest cent (rounding 0.5 cents upwards).

Part 3—Transitional, application and saving provisions