Under the Clean Energy Act 2011, large users of specified taxable liquid fuels can choose to manage their carbon price liability through the carbon pricing mechanism rather than through the fuel tax or excise systems under the operation of the Australian Taxation Office (ATO).
Carbon pricing mechanism repeal
The Clean Energy Act 2011 has been repealed. This abolishes the carbon pricing mechanism from 1 July 2014. Liable entities must still meet their carbon price obligations for the 2013-14 financial year.
Content on the Clean Energy Regulator website will be progressively updated to reflect these changes. More information can be found on the carbon pricing mechanism repeal page.
The Opt-in Scheme has been set up so that a person, the designated opt-in person (DOIP), can manage the taxable fuel liabilities of a GST group, GST joint venture, or for themselves.
Under the Opt-in Scheme, the DOIP is liable for the potential emissions embodied in liquid fuel for which the GST group, GST joint venture or they have a fuel tax credit entitlement. Once a DOIP has been declared, they will remain opted-in for the complete financial year.
Further information about opting in to the carbon pricing mechanism is available on the guidelines page.
Applications for 2014-15
Applications to opt-in to the carbon pricing mechanism for the 2014-15 financial year closed on 31 March 2014.
If you need any further information please contact the Clean Energy Regulator on 1300 553 542 or email firstname.lastname@example.org.