Fuel Tax Act 2006

CHAPTER 3 - FUEL TAX CREDITS

PART 3-3 - SPECIAL RULES

Division 47 - Time limit on entitlements to fuel tax credits

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Subdivision 47-A - Time limit on entitlements to fuel tax credits

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SECTION 47-5 TIME LIMIT ON ENTITLEMENTS TO FUEL TAX CREDITS

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47-5(1)
You cease to be entitled to a fuel tax credit to the extent that it has not been taken into account, in an *assessment of a *net fuel amount of yours, during the period of 4 years after the day on which you were required to give to the Commissioner a return for the tax period or fuel tax return period to which the fuel tax credit would be attributable under subsection 65-5(1) , (2) or (3) .

47-5(2)
Without limiting subsection (1), you also cease to be entitled to a fuel tax credit for taxable fuel you acquire, manufacture or import, to the extent that you did not give to the Commissioner under section 61-15 during the period of 4 years after the day on which the acquisition, manufacture or importation occurred a return that takes the fuel tax credit into account.

Note:

Section 47-10 sets out circumstances in which your entitlement to the fuel tax credit does not cease under this section.

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History

S 47-5 substituted by No 39 of 2012, s 3 and Sch 1 item 168, applicable in relation to payments and refunds that relate to tax periods, and fuel tax return periods, starting on or after 1 July 2012; and also in relation to payments and refunds that: (a) do not relate to any tax periods or fuel tax return periods; and (b) relate to liabilities or entitlements that arose on or after 1 July 2012.

S 47-5 formerly read:

SECTION 47-5 TIME LIMIT ON ENTITLEMENTS TO FUEL TAX CREDITS
47-5
You cease to be entitled to a fuel tax credit to the extent that you have not taken it into account in working out your *net fuel amount for:

(a) the *tax period or *fuel tax return period to which the fuel tax credit would be attributable under subsection 65-5(1) , (2) or (3) ; or

(b) any other tax period, or fuel tax return period, for which you give to the Commissioner a return under section 61-15 during the period of 4 years after the day on which you were required to give to the Commissioner such a return for the tax period or fuel tax return period referred to in paragraph (a).
Note:

Section 47-10 sets out circumstances in which your entitlement to the fuel tax credit does not cease under this section.

S 47-5 inserted by No 20 of 2010, s 3 and Sch 1 item 17, applicable, and taken to have applied, in relation to acquisitions, manufacturing, importations and adjustments that are taken into account in:

(a) returns given to the Commissioner under section 61-15 of the Fuel Tax Act 2006 on or after 1 July 2010; or

(b) amendments of such returns.

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