Queensland Nationals Senator Barnaby Joyce has, this afternoon, welcomed the Australian Government’s announcement that it will provide a two year transitional period for the introduction of the new diesel fuel rebate scheme.

“This is a great medium term outcome for industry and will hopefully provide sufficient time for businesses to restructure their processes without being negatively affected”, Senator Joyce said.

The current system has a provision that allows for almost immediate claiming of the rebate; however changes proposed in the Fuel Tax Bill 2006 would have meant drawing out the process until the lodgement of Business Activity Statements (BAS).

“Several industries have raised serious concerns regarding the implications for cash flow and, as an accountant, I fully understand the effect such a situation would create”, he said.

“The Nationals delivered a collective approach on this and it is yet another example of the contribution our party is making to rural and regional Australia”, he said.

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