Document ID: chunk:federal_register_of_legislation:C2024C00257:section:6ca:p3
Version: federal_register_of_legislation:C2024C00257
Segment Type: section
Provision Reference: s 6CA (pt 3/6)
Character Range: 61421–64041

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
 (5) The amount of notional duty in respect of condensate produced from a particular prescribed condensate 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 condensate that exceeds  but does not exceed ;
 (b) the quantity (if any) of the condensate that exceeds  but does not exceed ;
 (c) the quantity (if any) of the condensate that exceeds  but does not exceed ; and
 (d) the quantity (if any) of the condensate that exceeds ;
where:
A is the number of days in the period.
B is:
 (a) where the period 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 condensate—one petroleum price
 (6) Subject to subsections (9) and (12), the amount of notional duty in respect of a quantity of condensate referred to in subsection (5) is an amount equal to the relevant percentage (set out in subsection (10)) of the product of:
 (a) the amount specified in the price that is, at the end of the period referred to in subsection (5) in relation to the quantity of condensate, the applicable petroleum price for the month in which the period comes to an end; and
 (b) the number of kilolitres in that quantity;
calculated to the nearest cent.

The debited adjustment amount
 (7) If:
 (a) during a month of a financial year, a VOLWARE price for condensate for a month of the immediately preceding financial year and a particular prescribed condensate production area is determined under section 7 of the Petroleum Excise (Prices) Act 1987; and
 (b) the adjusted previous year's duty for that prescribed condensate production area for that first‑mentioned month is greater than the non‑adjusted previous year's duty for that area for that first‑mentioned month;
there is a debited adjustment amount for that area for that first‑mentioned month, being an amount equal to the difference between that adjusted previous year's duty and that non‑adjusted previous year's duty.

The credited adjustment amount
 (8) If:
 (a) during a