Fuel Tax Act 2006

CHAPTER 3 - FUEL TAX CREDITS

PART 3-1 - BASIC RULES

Division 43 - Working out your fuel tax credit

SECTION 43-1 WHAT THIS DIVISION IS ABOUT

The amount of your credit for taxable fuel is the amount of fuel tax that was payable on the fuel, reduced to take account of certain grants and subsidies that were payable in respect of the fuel (as the grants or subsidies reduced the amount of fuel tax that effectively applied to the fuel).

For taxable fuel that is a blend of fuels, there are additional rules for working out the amount of your credit.

In some cases, the credit is reduced so that some of the fuel tax can be retained as a road user charge.

View history note

History

S 43-1 amended by No 81 of 2015, s 3 and Sch 1 item 15, by omitting " to fund cleaner fuel grants and " after " fuel tax can be retained " , effective 1 July 2015.

S 43-1 amended by No 83 of 2014, s 3 and Sch 1 item 120, by substituting the first para for the first to third para, applicable to taxable fuel acquired, manufactured or imported on or after 1 July 2014. The first to third para formerly read:

The amount of your credit for taxable fuel is the amount of fuel tax that was payable on the fuel:

(a) reduced to take account of certain grants and subsidies that were payable in respect of the fuel (as the grants or subsidies reduced the amount of fuel tax that effectively applied to the fuel); and

(b) for fuel that is not covered by the Opt-in Scheme - reduced (with some exceptions) to take account of what the carbon price on the fuel emissions would be (if those emissions were subject to a carbon price).

For fuel for use in aircraft that is covered by the Opt-in Scheme, the amount of the credit is reduced so that it is limited to the carbon component rate that was factored into the rate of fuel tax.

For gaseous fuel that is subject to the carbon pricing mechanism, the amount of the credit is the amount of the carbon charge that is embedded in the price of the fuel.

S 43-1 amended by No 84 of 2012, s 3 and Sch 2 item 80, by inserting " For gaseous fuel that is subject to the carbon pricing mechanism, the amount of the credit is the amount of the carbon charge that is embedded in the price of the fuel. " , effective 1 July 2012.

S 43-1 amended by No 157 of 2011, s 3 and Sch 1 item 10, by substituting the first and second para for the first para, applicable to fuel acquired, manufactured or imported on or after 1 July 2012. The first para formerly read:

The amount of your credit for taxable fuel is the amount of fuel tax that was payable on the fuel, reduced to take account of certain grants and subsidies that were payable in respect of the fuel (as the grants or subsidies reduced the amount of fuel tax that effectively applied to the fuel).

S 43-1 amended by No 68 of 2011, s 3 and Sch 1 item 25, by inserting the para relating to taxable fuel that is a blend of fuels, effective 1 December 2011.

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