Petroleum products subsidy
Abolition of Petroleum Products Subsidy
Following the abolition of the Fuel Subsidy Scheme in Queensland, the Government has abolished the NSW Petroleum Products Subsidy Scheme from 1 July 2009.
A subsidy may be claimed on petroleum products sold up to 30 June 2009.
A cap has been placed on June 2009 claims and the maximum amount of subsidy payable in respect of petroleum products sold in June 2009 will be the greater of the following amounts:
a) 10 per cent of the total amount of subsidies payable to a registered person in respect of petroleum products sold in the 11 months preceding June 2009,
b) $10,000.
All subsidy claims must be lodged by 30 June 2010.
What was the Petroleum Products Subsidy?
Under the Petroleum Products Subsidy Scheme Act 1997, NSW paid subsidies in five northern NSW zones which extend south from the Queensland - NSW border.
The subsidy scheme was designed to ensure that NSW sellers of eligible petroleum products were able to compete fairly with Queensland petroleum re-sellers where the Queensland Government subsidised on-road fuel.
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