Following the government's announcement on the proposed Carbon Tax scheme from 1 July 2012, the rate of fuel tax credits on the acquisition of eligible fuel used in marine transport activities will be reduced. In 2012-3 the fuel credit for diesel used in marine transport will be reduced by more than 6 cents per litre.
The carbon tax will directly affect 500 of the nation's top polluters and will require them to pay a fixed price of $23 per tonne of carbon pollution released into the atmosphere. The rate of the Carbon Tax will increase annually by 2.5% in line with real world inflation, over a three year period. From 1 July 2015 the carbon price will be set by the market under an emissions trading scheme.
While the proposed carbon tax will only apply to 500 of the nation's top polluters, operators in the shipping and transport industry will be subject to an effective carbon tax through reductions to fuel tax credits. With the exception of some full and temporary exemptions, marine usage fuel tax credits will be reduced in line with the government's $23 per tonne price on carbon effective from 1 July 2012 at the rates shown below.
| Fuel tax credit reductions | Fuel (cents per litre) | ||
| Fuel | 2012-13 | 2013-14 | 2014-15 |
| Petrol | 5.52 | 5.796 | 6.096 |
| Diesel and other liquid fuels | 6.21 | 6.521 | 6.858 |
| LPG | 3.68 | 3.864 | 4.064 |
| LPG & CNG | 6.67 | 7.004 | 7.366 |
Some other fuel users will be exempt from the fuel credit reduction as follows:
Exemption and implementation information
| Industry sector | Exemption | Effective date |
| Freight | ||
| Road | Temporary | 14/07/2014 |
| Sea, rail, air | No | 1/07/2012 |
| Passenger | ||
| Road (private) | Yes | - |
| Road (public/bus) | No | 1/07/2012 |
| Seal, rail | No | 1/07/2012 |
| Air (domestic) | No | 1/07/2012 |
| Air (international) | Yes | - |
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