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Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Bill 2010

Part 3-1 Attribution rules

Division 10 Attribution rules

Table of Subdivisions

             Guide to Division 10

10-A     Attribution rules

Guide to Division 10

10-1   What this Division is about

CPRS fuel credits and CPRS fuel credit adjustments are attributed to tax periods (or fuel tax return periods).

If you are registered for GST, or required to be registered for GST, your CPRS fuel credit for fuel that you acquire or import is attributed to the same period as your input tax credit for the fuel. If you are neither registered for GST, nor required to be registered for GST, your CPRS fuel credit for fuel that you acquire or import is attributed to the fuel tax return period in which you acquire or import the fuel.

Your CPRS fuel credit for fuel that you manufacture is attributed to the tax period or fuel tax return period in which the fuel was entered for home consumption.

Your CPRS fuel credit for fuel that you supply, or apply to your own use, is attributed to the tax period or fuel tax return period in which you supply, or apply to your own use, the fuel.

CPRS fuel credit adjustments are attributed to the tax period (or fuel tax return period) in which you become aware of the adjustment.

Subdivision 10-A Attribution rules

Table of Sections

10-5          Attribution rules for CPRS fuel credits

10-10        Attribution rules for CPRS fuel credit adjustments

10-5   Attribution rules for CPRS fuel credits

Attribution rules for fuel you acquire or import

             (1)  If you are * registered for GST, or * required to be registered for GST, your CPRS fuel credit under section 6-5, 6-10, 6-15 or 6-20 for fuel that you acquire or import is attributable to:

                     (a)  the same * tax period that your * input tax credit for the fuel is attributable to under the * GST Act; or

                     (b)  the same tax period that an input tax credit would have been attributable to under that Act if the fuel had been a * creditable acquisition or a * creditable importation.

             (2)  If you are neither * registered for GST, nor * required to be registered for GST, your CPRS fuel credit under section 6-5, 6-10, 6-15 or 6-20 for fuel that you acquire or import is attributable to the * fuel tax return period in which you acquire or import the fuel.

Attribution rule for fuel you manufacture

             (3)  Your CPRS fuel credit under section 6-5, 6-10, 6-15 or 6-20 for fuel that you manufacture is attributable to the * tax period or * fuel tax return period in which the fuel was entered for home consumption (within the meaning of the Excise Act 1901 ).

Attribution rule for fuel that you supply or that you apply to your own use

             (4)  Your CPRS fuel credit under section 6-25, 6-30 or 6-35 for fuel that you * supply, or apply to your own use, is attributable to the * tax period or * fuel tax return period in which you supply, or apply to your own use, the fuel.

Later attribution rule for CPRS fuel credits

             (5)  If your return for a * tax period or * fuel tax return period states a * net fuel amount that does not take into account a CPRS fuel credit that is attributable to the period mentioned in subsection (1), (2), (3) or (4) then the credit:

                     (a)  ceases to be attributable to that period; and

                     (b)  becomes attributable to the first period for which you give the Commissioner a return that does take it into account.

Note:          For another attribution rule for CPRS fuel credits, see subsection 9-5(4) (GST instalment taxpayers).

10-10   Attribution rules for CPRS fuel credit adjustments

                   A * CPRS fuel credit adjustment is attributable to the * tax period or * fuel tax return period in which you become aware of the adjustment.

Note:          For attribution rules for other CPRS fuel credit adjustments, see subsection 9-5(4) (GST instalment taxpayers).