S 328-375.01 repealed by SLI No 178 of 2007, s 3 and Sch 1 item 1, effective 27 June 2007 and applicable in relation to assessments for the 2007-2008 income year and later income years. S 328-375.01 formerly read:
REGULATION 328-375.01 CALCULATION OF STS GROUP TURNOVER
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FUEL RETAILERS
328-375.01(1)
For subsection
328-375(4)
of the Act, the way in which to calculate the
STS group turnover
for an income year of an entity (
entity 1
) that sells retail fuel is:
(a)
work out an amount for entity 1 using the method in subsection
328-375(1)
of the Act; and
(b)
reduce the amount by:
(i)
the part of the value of the business supplies entity 1 made in the income year that is attributable to the supply of retail fuel to any entity other than an entity that is grouped with entity 1; and
(ii)
the part of the value of the business supplies entities grouped with entity 1 made in the income year that is attributable to the supply of retail fuel to any entity other than:
(A)
entity 1; or
(B)
a third entity (while the entity and the third entity were grouped with entity 1).
Note 1
Section
328-380
of the Act explains arrangements relating to grouped entities.
Note 2
The expression
value of the business supplies
is explained in section
960-345
of the Act.
328-375.01(2)
In this regulation:
retail fuel
means taxable fuel, within the meaning given by the
Fuel Tax Act 2006
, that is sold by retail.
History
S 328-375.01(2) substituted (after the notes) by SLI No 216 of 2006, reg 11 and Sch 8 items 1 and 2, applicable in relation to calculations of STS group turnover for the 2006/07 income year and later income years. S 328-375.01(2) formerly read:
328-375.01(2)
In this regulation:
retail fuel
means:
(a)
fuel, within the meaning of the
Fuel Sales Grants Act 2000
, that is sold by retail; and
(b)
liquefied petroleum gas that is sold by retail.
S 328-375.01 inserted by SR No 39 of 2003.
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