Reform of the Product Stewardship for Oil Scheme

The Government will increase the Product Stewardship for Oil (PSO) levy by 5.7 cents from 1 July 2023. The PSO levy will increase from 8.5 cents to 14.2 cents per litre for specific oils and greases. The Government will also make consequential changes to PSO category 8 benefits from 1 July 2023, raising these to 14.2 cents for oils to match the increased PSO levy. The Government is increasing the relevant excise and customs duties to make the scheme more sustainable. This measure is estimated to increase receipts by $161.0 million and increase payments by $22.0 million, including GST payments to the state and territories of $10.0 million over the 5 years from 2022-23.