Document ID: chunk:federal_register_of_legislation:C2024C00257:section:6b:p2
Version: federal_register_of_legislation:C2024C00257
Segment Type: section
Provision Reference: s 6B (pt 2/5)
Character Range: 38290–40752

that month, worked out in accordance with subsection (5C).
debited adjustment amount is the debited adjustment amount (if any) for that area and that month, worked out in accordance with subsection (5B).
duty paid is the amount of duty (if any) paid in respect of old oil produced from that area and entered for home consumption during the period starting at the start of that financial year and ending at the end of that month.
notional duty is the amount of notional duty in respect of old oil produced from that area and entered for home consumption during the period starting at the start of that financial year and ending at the end of that month, worked out in accordance with subsection (4).

Disregarding certain amounts when working out amount of duty
 (3A) In working out, for the purposes of subsection (3), the amount of duty paid in respect of old oil produced from a prescribed production area and entered for home consumption during a period starting at the start of a financial year and ending at the end of a month of that year, the following amounts are to be disregarded:
 (a) any increases in the amount of duty paid as a result of the addition of debited adjustment amounts for that area for any of the preceding months of that year;
 (b) any decreases in that amount as a result of the subtraction of credited adjustment amounts for that area for any of those months.

The total amount of notional duty
 (4) The amount of notional duty in respect of old oil produced from a particular prescribed production area and entered for home consumption during a particular period is the sum of the amounts of notional duty in respect of:
 (a) the quantity (if any) of the oil that exceeds  but does not exceed ; and
 (b) the quantity (if any) of the oil that exceeds  but does not exceed ; and
 (c) the quantity (if any) of the oil that exceeds  but does not exceed ; and
 (d) the quantity (if any) of the oil that exceeds  but does not exceed ; and
 (e) the quantity (if any) of the oil that exceeds ;
where:
A is the number of days in the period.
B is:
 (a) where the period is in a year in which there are 365 days—136.98630 kilolitres; or
 (b) where the period is in a year in which there are 366 days—136.61202 kilolitres.

The amount of notional duty for a quantity of oil—one petroleum price
 (5) Subject to subsections (6) and (9), the amount of notional duty in respect of a quantity of oil referred to in subsection (4) is an amount equal