Climate Change (Synthetic Greenhouse Gas Levies) Amendment Regulations (No 2) 2013

2013/382

Coat of Arms of New Zealand

Climate Change (Synthetic Greenhouse Gas Levies) Amendment Regulations (No 2) 2013

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 9th day of September 2013

Present:
The Right Hon John Key presiding in Council

Pursuant to sections 233(4), 235(4), and 245 of the Climate Change Response Act 2002, His Excellency the Governor-General makes the following regulations, acting—

  • (a) on the advice and with the consent of the Executive Council; and

  • (b) on the recommendation of the Minister for Climate Change Issues made after complying with the requirements in sections 233(6) and 247 of that Act.

Regulations

1 Title
  • These regulations are the Climate Change (Synthetic Greenhouse Gas Levies) Amendment Regulations (No 2) 2013.

2 Commencement
  • These regulations come into force on 1 January 2014.

3 Principal regulations
4 Regulation 3 amended (Interpretation)
5 Regulation 9 replaced (Methodology for specifying price of carbon)
  • Replace regulation 9 with:

    9 Methodology for specifying price of carbon
    • (1) This regulation sets out how to determine the price of carbon to be used in calculating the rate of levy that applies to a leviable motor vehicle or leviable goods in a levy year.

      (2) If the Crown annual financial statements for the previous financial year calculated revenue from the surrender of units under the greenhouse gas emissions trading scheme—

      • (a) using 1 valuation unit, then the price of carbon is the average of the weekly spot prices of the valuation unit in the previous financial year; or

      • (b) using 2 or more valuation units, then the price of carbon is determined by applying the formula in subclause (3) to each valuation unit and adding the results.

      (3) The formula is—

      p = a × b
        c

      where—

      p
      is the part of the price that relates to a particular valuation unit
      a
      is the average of the weekly spot prices of the valuation unit in the previous financial year
      b
      is the total quantity of the 1 or more surrender units valued by reference to the valuation unit that were surrendered in the previous financial year
      c
      is the total quantity of all surrender units that were surrendered in the previous financial year.

      (4) In this regulation,—

      previous financial year, in relation to a levy year, means the financial year that ended in the previous levy year

      surrender unit means a type of unit (as defined by the Act) surrendered in the previous levy year (for example, an emission reduction unit)

      valuation unit means the unit (whether or not a unit as defined by the Act) by reference to which 1 or more surrender units were valued in the previous financial year (for example, an emission reduction unit may have been valued by reference to itself or to a certified emission reduction unit).

6 Regulation 10 replaced (Price of carbon)
  • Replace regulation 10 with:

    10 Price of carbon
    • The price of carbon for the 2014 levy year is $1.65, as determined by applying the methodology in regulation 9.

7 Regulation 11 amended (Rates of levies prescribed)
8 Schedule 1 amended
  • In Schedule 1, seventh column, replace the amounts set out in the first column of Schedule 1 of these regulations with the amounts set out in the second column.

9 Schedule 2 amended
  • In Schedule 2, seventh column, replace the amounts set out in the first column of Schedule 2 of these regulations with the amounts set out in the second column.


Schedule 1
New seventh column of Schedule 1

r 8

Levy rate (excl GST) ($)Levy rate (excl GST) ($)
3.530.71
3.530.71
3.530.71
4.700.94
23.514.72
3.530.71
4.700.94
4.700.94

Schedule 2
New seventh column of Schedule 2

r 9

Levy rate (excl GST) ($)Levy rate (excl GST) ($)
  
8.591.72
12.882.59
21.474.31
30.066.03
5.881.18
8.591.72
5.881.18
8.591.72
  
5.881.18
  
8.591.72
12.882.59
21.474.31
30.066.03
  
5.881.18
8.591.72
5.881.18
8.591.72
  
8.591.72
12.882.59
21.474.31
30.066.03
  
5.881.18
8.591.72
5.881.18
8.591.72
  
8.591.72
  
0.590.12
0.650.13
0.710.14
0.760.15
0.880.18
0.880.18
  
0.410.08
0.530.11
0.590.12
0.650.13
0.760.15
  
0.820.17
1.060.21
  
0.470.09
0.650.13
  
2.350.47
2.350.47
2.350.47
2.350.47
9.671.94
9.671.94
9.671.94
9.671.94
  
8.591.72
12.882.59
21.474.31
30.066.03
5.881.18
8.591.72
8.591.72
  
0.290.06
1.760.35
4.840.97
5.881.18
16.123.24
2.350.47
9.671.94
  
16.123.24
16.123.24
16.123.24
  
1.180.24
3.220.65
1.180.24
3.220.65
  
0.880.18
  
5.881.18
16.123.24
16.121.18
16.123.24
5.881.18
16.123.24
5.881.18
5.881.18
16.123.24
16.123.24
5.881.18
16.123.24
5.881.18
16.123.24
5.881.18
16.123.24
5.881.18
16.123.24

Martin Bell,
for Clerk of the Executive Council.


Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations amend the Climate Change (Synthetic Greenhouse Gas Levies) Regulations 2013. The amendments come into force on 1 January 2014.

The amendments relate to the levy imposed by section 227 of the Climate Change Response Act 2002 in relation to synthetic greenhouse gas. The amendments—

  • prescribe how to determine the price of carbon to be used in calculating the rate of levy that applies to a leviable motor vehicle or leviable goods in a levy year (from the 2014 levy year onwards):

  • specify the price of carbon for the 2014 levy year by applying the methodology:

  • prescribe the rates of levy for leviable motor vehicles and leviable goods for the 2014 levy year.


Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 12 September 2013.

These regulations are administered by the Ministry for the Environment.