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17 June 2015

Government reaches agreement with Labor on taxation of biodiesel and fuel ethanol

Joint media release
with the Hon Ian Macfarlane
Minister for Industry and Science

The Government has today come to an agreement with Labor to implement the 2014-15 Budget measures to gradually increase the excise payable on domestically produced biodiesel and fuel ethanol.

The Government will table amendments next week in the Senate to phase in the excise payable for biodiesel producers in equal increments over 16 years, from a rate of zero in 2015-16 to a final rate of approximately 50 per cent of the full petrol and diesel excise rate in 2030-31.