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Fuel Tax Bill 2006

Part 4-1 Net fuel amounts

Division 60 Net fuel amounts

Table of Subdivisions

             Guide to Division 60

60-A     Net fuel amounts

Guide to Division 60

60-1   What this Division is about

Your net fuel amount reflects how much you or the Commissioner must pay. A positive net fuel amount reflects how much you must pay the Commissioner. A negative net fuel amount reflects how much the Commissioner must pay you.

You work out your net fuel amount for each tax period (or fuel tax return period if you are not registered, nor required to be registered, for GST).

Subdivision 60-A Net fuel amounts

Table of Sections

60-5          Working out your net fuel amount

60-5   Working out your net fuel amount

             (1)  Your net fuel amount for a * tax period or a * fuel tax return period is worked out using the following formula:

                   where:

total decreasing fuel tax adjustments is the sum of all * decreasing fuel tax adjustments that are attributable to the period.

Note:          Division 65 sets out which tax periods or fuel tax return periods fuel tax adjustments are attributable to.

total fuel tax is nil.

Note:          Fuel tax is currently assessed under the Excise Act 1901 , the Excise Tariff Act 1921 , the Customs Act 1901 and the Customs Tariff Act 1995 . It is intended that gaseous fuels will begin to be assessed under this Act in 2011.

total fuel tax credits is the sum of all fuel tax credits to which you are entitled that are attributable to the period.

Note 1:       Division 45 (Greenhouse Challenge Plus Programme) might affect your entitlement to a credit.

Note 2:       Division 65 sets out which tax periods or fuel tax return periods fuel tax credits are attributable to.

total increasing fuel tax adjustments is the sum of all * increasing fuel tax adjustments that are attributable to the period.

Note:          Division 65 sets out which tax periods or fuel tax return periods fuel tax adjustments are attributable to.



 

Division 61 Returns, refunds and payments

Table of Subdivisions

             Guide to Division 61

61-A     Returns, refunds and payments

Guide to Division 61

61-1   What this Division is about

You must give the Commissioner a return for each tax period (or fuel tax return period if you are not registered, nor required to be registered, for GST) by a specified time.

If your return includes a positive net fuel amount, you must pay the Commissioner that amount. If your return includes a negative net fuel amount, the Commissioner must pay you that amount.

Subdivision 61-A Returns, refunds and payments

Table of Sections

61-5          Entitlement to a refund

61-10        Requirement to pay a net fuel amount

61-15        When you must give the Commissioner your return

61-20        Fuel tax return periods

61-5   Entitlement to a refund

             (1)  If your * net fuel amount for a * tax period or * fuel tax return period is less than zero, the Commissioner must, on behalf of the Commonwealth, pay that * amount (expressed as a positive amount) to you.

Note 1:       See Division 3A of Part IIB of the Taxation Administration Act 1953 for the rules about how the Commissioner must pay you. Division 3 of Part IIB of that Act allows the Commissioner to apply the amount owing as a credit against tax debts that you owe to the Commonwealth.

Note 2:       Interest is payable under the Taxation (Interest on Overpayments and Early Payments) Act 1983 if the Commissioner is late in paying the amount.

             (2)  Your entitlement to be paid an * amount under subsection (1) arises when you give the Commissioner a return.

61-10   Requirement to pay a net fuel amount

                   If your * net fuel amount for a * tax period or * fuel tax return period is greater than zero, you must pay that * amount to the Commissioner by the day on which you are required under section 46-5 or 61-15 to give the Commissioner your return.

61-15   When you must give the Commissioner your return

             (1)  If you are * registered for GST, or * required to be registered for GST, you must give the Commissioner your return for a * tax period on or before the day on which you are required to give the Commissioner your * GST return for the tax period.

Note 1:       For the penalties for failing to comply with these obligations, see the Taxation Administration Act 1953 .

Note 2:       If you lodge your GST return electronically, you must also electronically notify the Commissioner of your net fuel amount (see section 388-80 in Schedule 1 to the Taxation Administration Act 1953 ).

Note 3:       Instalment taxpayers may give their returns on a different day (see section 46-5).

             (2)  If you are neither * registered for GST, nor * required to be registered for GST, you must give the Commissioner your return for a * fuel tax return period by the 21st day after the end of the fuel tax return period.

             (3)  You must give the Commissioner your return for a * tax period or a * fuel tax return period in the * approved form.

61-20   Fuel tax return periods

             (1)  If you are neither * registered for GST, nor * required to be registered for GST, your fuel tax return period is the period specified in the return.

             (2)  However, you must end a * fuel tax return period within 90 days, or any longer period allowed by the Commissioner, after you become aware of an * increasing fuel tax adjustment under Division 44. If you do not do so, your fuel tax return period ends at the end of the 90 days, or the longer period allowed by the Commissioner.

Note:          You must give your return to the Commissioner by the 21st day after the end of the fuel tax return period (see section 61-15).