Subject category:
Finance, Accounting and Control
Published by:
The Australia and New Zealand School of Government (ANZSOG)
Version: 20-02-07
Length: 14 pages
Data source: Field research
Abstract
This is the first of a four-case series. In 1984 the State Electricity Commission of Victoria entered supply agreements with the aluminium producer Alcoa, tied to the world price of aluminium. In 1997, to recover the shortfall from continuing low prices the government introduced the Smelter Reduction Amount. In 2003, this was challenged as being an excise and unconstitutional. The case was handed to the Department of Treasury and Finance.
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Abstract
This is the first of a four-case series. In 1984 the State Electricity Commission of Victoria entered supply agreements with the aluminium producer Alcoa, tied to the world price of aluminium. In 1997, to recover the shortfall from continuing low prices the government introduced the Smelter Reduction Amount. In 2003, this was challenged as being an excise and unconstitutional. The case was handed to the Department of Treasury and Finance.