CHAPTER 3
-
FUEL TAX CREDITS
PART 3-1
-
BASIC RULES
Division 43
-
Working out your fuel tax credit
Subdivision 43-A
-
Working out your fuel tax credit
SECTION 43-5
WORKING OUT YOUR FUEL TAX CREDIT
43-5(1)
The *amount of your fuel tax credit for taxable fuel is the amount of *effective fuel tax that is payable on the fuel.
Note:
The amount of the credit may be reduced under section
43-10
.
History
S 43-5(1) amended by No 8 of 2019, s 3 and Sch 8 item 26, by substituting
"
fuel tax credit
"
for
"
tax fuel credit
"
, effective 1 April 2019.
S 43-5(1) substituted by No 83 of 2014, s 3 and Sch 1 item 121, applicable to taxable fuel acquired, manufactured or imported on or after 1 July 2014. S 43-5(1) formerly read:
43-5(1)
The *amount of your fuel tax credit for taxable fuel (other than a fuel tax credit to which you are entitled under Division
42A
) is the amount (but not below nil) worked out using the following formula:
*Amount of *effective fuel tax
−
*Amount of *carbon reduction
Note:
The amount of the credit might be reduced under section
43-10
or
43-11
.
S 43-5(1) amended by No 84 of 2012, s 3 and Sch 2 item 81, by inserting
"
(other than a fuel tax credit to which you are entitled under Division 42A)
"
, effective 1 July 2012.
S 43-5(1) substituted by No 157 of 2011, s 3 and Sch 1 item 11, applicable to fuel acquired, manufactured or imported on or after 1 July 2012. S 43-5(1) formerly read:
43-5(1)
The *amount of your fuel tax credit for taxable fuel is the amount of *effective fuel tax that is payable on the fuel.
Note:
The amount of the credit might be reduced under section
43-10
.
Amount of effective fuel tax
43-5(2)
The *amount of
effective fuel tax
that is payable on the fuel is the amount (but not less than nil) worked out using the formula:
| Fuel tax amount |
− |
Grant or subsidy amount |
where:
fuel tax amount
means the *amount of fuel tax that was or would be payable on the fuel at the rate in force on the day worked out using the table in subsection (2A).
grant or subsidy amount
means the *amount of any grant or subsidy, except a grant specified in subsection (3), that was or would be payable in respect of the fuel by the Commonwealth at the rate in force on the day worked out using the table in subsection (2A).
Note:
Section
43-7
affects how this subsection applies to blends.
History
S 43-5(2) substituted by No 68 of 2011, s 3 and Sch 1 item 26, applicable to fuel acquired, manufactured or imported on or after 1 December 2011. S 43-5(2) formerly read:
43-5(2)
Amount of effective fuel tax
The *amount of
effective fuel tax
that is payable on the fuel is the amount (but not below nil) worked out using the following formula:
| Fuel tax amount |
− |
Grant or subsidy amount |
where:
fuel tax amount
means the *amount of fuel tax that was or would be payable on the fuel:
(a)
if you are *registered for GST, or *required to be registered for GST
-
at the rate in force at the beginning of the *tax period to which the credit is attributable; and
(b)
if you are not registered for GST, nor required to be registered for GST
-
at the rate in force on the day on which the Commissioner receives your return relating to the fuel.
Note:
Division
65
sets out which tax period a credit is attributable to.
grant or subsidy amount
means the *amount of any grant or subsidy that was or would be payable in respect of the fuel by the Commonwealth:
(a)
if you are *registered for GST, or *required to be registered for GST
-
at the rate in force at the beginning of the *tax period to which the credit is attributable; and
(b)
if you are not registered for GST, nor required to be registered for GST
-
at the rate in force on the day on which the Commissioner receives your return relating to the fuel.
Note 1:
Division
65
sets out which tax period a credit is attributable to.
Note 2:
Subsection (4) affects how this formula applies to some blends of petrol or diesel.
Day for rate of fuel tax, grant or subsidy
43-5(2A)
Work out the day using the table:
|
Day for rate of fuel tax, grant or subsidy
|
|
If:
|
The day is:
|
| 1 |
You acquired or imported the fuel |
The day you acquired or imported the fuel |
| 2 |
You:
(a) manufactured the fuel; and
(b) entered the fuel for home consumption (within the meaning of the
Excise Act 1901
) |
The day you entered the fuel for home consumption (within the meaning of the
Excise Act 1901
) |
Note:
Division
65
sets out which tax period a credit is attributable to.
History
S 43-5(2A) substituted by No 133 of 2014, s 3 and Sch 4 item 1, applicable in relation to: (a) a tax period that starts on or after 1 July 2014; or (b) a fuel tax return period, if the return for that period is lodged on or after 1 July 2014. S 43-5(2A) formerly read:
Day for rate of fuel tax, grant or subsidy
43-5(2A)
Work out the day using the table:
|
Day for rate of fuel tax, grant or subsidy
|
|
If:
|
The day is:
|
| 1 |
You:
(a) acquired or imported the fuel after 30 November 2011 and before 1 July 2015; and
(b) are *registered for GST or *required to be registered for GST |
The day you acquired or imported the fuel |
| 2 |
You:
(a) manufactured the fuel; and
(b) entered the fuel for home consumption (within the meaning of the
Excise Act 1901
) after 30 November 2011 and before 1 July 2015; and
(c) are *registered for GST or *required to be registered for GST |
The day you entered the fuel for home consumption (within the meaning of the
Excise Act 1901
) |
| 3 |
You:
(a) acquired, manufactured or imported the fuel after 30 June 2015; and
(b) are *registered for GST or *required to be registered for GST |
The first day of the *tax period to which the credit is attributable |
| 4 |
You are neither *registered for GST nor *required to be registered for GST |
The day the Commissioner receives your return relating to the fuel |
Note:
Division
65
sets out which tax period a credit is attributable to.
S 43-5(2A) inserted by No 68 of 2011, s 3 and Sch 1 item 26, applicable to fuel acquired, manufactured or imported on or after 1 December 2011.
43-5(3)
In applying subsection (2), disregard a benefit under the
Product Stewardship (Oil) Act 2000
.
History
S 43-5(3) substituted by No 81 of 2015, s 3 and Sch 1 item 16, effective 1 July 2015. S 43-5(3) formerly read:
43-5(3)
Exclusions from grant or subsidy amount
In applying subsection (2), the following grants are disregarded:
(a)
a grant under the Biofuels Capital Grants Program;
(b)
(Repealed by No 73 of 2006)
(c)
a grant for petrol or diesel under the
Energy Grants (Cleaner Fuels) Scheme Act 2004
;
(d)
a benefit under the
Product Stewardship (Oil) Act 2000
.
S 43-5(3) amended by No 73 of 2006, s 3 and Sch 3 item 39, by repealing para (b), effective 1 July 2012. Para (b) formerly read:
(b)
a grant for on-road alternative fuel under the
Energy Grants (Credits) Scheme Act 2003
;
43-5(4)
(Repealed by No 83 of 2014)
History
S 43-5(4) repealed by No 83 of 2014, s 3 and Sch 1 item 122, applicable to taxable fuel acquired, manufactured or imported on or after 1 July 2014. S 43-5(4) formerly read:
Fuel tax credit to which you are entitled under Division 42A
43-5(4)
If you are entitled to a fuel tax credit under Division
42A
for taxable fuel, the amount of the fuel tax credit is the amount of *carbon reduction that applies to the fuel that you acquired, manufactured or imported.
S 43-5(4) inserted by No 84 of 2012, s 3 and Sch 2 item 82, effective 1 July 2012.
Former s 43-5(4) repealed by No 68 of 2011, s 3 and Sch 1 item 27, applicable to fuel acquired, manufactured or imported on or after 1 December 2011. S 43-5(4) formerly read:
43-5(4)
Amount of effective fuel tax for blends of petrol and diesel
The effective fuel tax for taxable fuel that:
(a)
is a blend of more than one kind of fuel; and
(b)
meets a fuel standard, under the
Fuel Quality Standards Act 2000
, for petrol or diesel;
is worked out under subsection (2) as if the fuel were entirely that kind of petrol or diesel (as the case requires).
43-5(5)
(Repealed by No 83 of 2014)
History
S 43-5(5) repealed by No 83 of 2014, s 3 and Sch 1 item 122, applicable to taxable fuel acquired, manufactured or imported on or after 1 July 2014. S 43-5(5) formerly read:
43-5(5)
For the purposes of subsection (4), disregard paragraph
43-8(4)(b)
.
S 43-5(5) inserted by No 84 of 2012, s 3 and Sch 2 item 82, effective 1 July 2012.
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