Fuel Tax Act 2006
You have an increasing fuel tax adjustment if:
(a) you are or were entitled to a fuel tax credit for taxable fuel; and
(b) you have no reasonable prospect of using, or making a *taxable supply of, the fuel. The *amount of the adjustment is the amount of the credit that you are or were entitled to.
Example:
You acquire taxable fuel to use in a harvester in carrying on your farming enterprise, so you are paid a fuel tax credit for the fuel. Later on, the fuel is stolen. You have an increasing fuel tax adjustment of the amount of the credit.
Note:
Division 65 sets out which tax period or fuel tax return period the fuel tax adjustment is attributable to.
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