Indirect Tax Laws Amendment (Assessment) Act 2012 (39 of 2012)

Schedule 2   Correcting errors in working out amounts under indirect tax laws

Fuel Tax Act 2006

3   At the end of Subdivision 60-A

Add:

60-10 Determinations relating to how to work out net fuel amounts

(1) The Commissioner may make a determination that, in the circumstances specified in the determination, a *net fuel amount for a *tax period or a *fuel tax return period may be worked out to take account of other matters in the way specified in the determination.

(2) The matters must relate to correction of errors:

(a) that were made in working out *net fuel amounts to which subsection (3) or (4) applies; and

(b) that do not relate to amounts:

(i) that have ceased to be payable by you because of section 105-50 in Schedule 1 to the Taxation Administration Act 1953; or

(ii) to which, because of section 105-55 in that Schedule, you are not entitled.

Note: Paragraph (2)(b) will be repealed on 1 January 2017 (see Part 2 of Schedule 1 to the Indirect Tax Laws Amendment (Assessment) Act 2012).

(3) This subsection applies to a *net fuel amount for a *tax period (the earlier tax period ) if:

(a) the earlier tax period precedes the tax period mentioned in subsection (1); and

(b) if the earlier tax period started on or after 1 July 2012 - the tax period mentioned in subsection (1) starts during the *period of review for the *assessment of the net fuel amount.

(4) This subsection applies to a *net fuel amount for a *fuel tax return period (the earlier fuel tax return period ) if:

(a) the earlier fuel tax return period precedes the fuel tax return period mentioned in subsection (1); and

(b) if the earlier fuel tax return period started on or after 1 July 2012 - the fuel tax return period mentioned in subsection (1) starts during the *period of review for the *assessment of the net fuel amount.

(5) If the circumstances mentioned in subsection (1) apply in relation to a *tax period or a *fuel tax return period applying to you, you may work out your *net fuel amount for the tax period or fuel tax return period in that way.