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NEW LEVY RATES
An amendment to the Agricultural and Veterinary Chemical Products (Collection of Levy) Regulations 1995 to reduce the levy rate for 2006/2007 and beyond has been approved by the Governor-General. It has a commencement date of 1 July 2006. The following rates of levy are prescribed for different volumes of leviable sales/disposals that take place during the 2006/2007 financial year and each succeeding financial year:
a) the rate of 0.8% for the first $1 million of leviable disposals or part thereof;
b) the rate of 0.45% for any amount in excess of the first $1 million of leviable disposals up to and including $5 million;
c) the rate of 0.3% for any amount in excess of $5 million of leviable disposals.