Indirect Tax Laws Amendment (Assessment) Act 2012 (39 of 2012)

Schedule 1   Assessment of amounts under indirect tax laws

Part 1   Amendments commencing on 1 July 2012

Division 3   Other amendments

Fuel Tax Act 2006

173   Sections 61-5 and 61-10

Repeal the sections, substitute:

61-5 Entitlement to a refund

(1) If your *assessed net fuel amount for a *tax period or *fuel tax return period is less than zero, the Commissioner must, on behalf of the Commonwealth, pay that *amount (expressed as a positive amount) to you.

Note 1: See Division 3A of Part IIB of the Taxation Administration Act 1953 for the rules about how the Commissioner must pay you. Division 3 of Part IIB of that Act allows the Commissioner to apply the amount owing as a credit against tax debts that you owe to the Commonwealth.

Note 2: Interest is payable under the Taxation (Interest on Overpayments and Early Payments) Act 1983 if the Commissioner is late in paying the amount.

(2) However, if:

(a) the Commissioner amends the *assessment of your *net fuel amount for a *tax period or *fuel tax return period; and

(b) your *assessed net fuel amount before the amendment was less than zero; and

(c) the *amount that, because of the assessment, was:

(i) paid; or

(ii) applied under the Taxation Administration Act 1953;

exceeded the amount (including a nil amount) that would have been payable or applicable had your assessed net fuel amount always been the later assessed net fuel amount;

you must pay the excess to the Commissioner as if:

(d) the excess were an assessed net fuel amount for that period; and

(e) that assessed net fuel amount were an amount greater than zero and equal to the amount of the excess; and

(f) despite section 61-10, that assessed net fuel amount became payable, and due for payment, by you at the time when the amount was paid or applied.

Note: Treating the excess as if it were an assessed net fuel amount has the effect of applying the collection and recovery rules in Part 3-10 in Schedule 1 to the Taxation Administration Act 1953, such as a liability to pay the general interest charge under section 105-80 in that Schedule.

61-7 When entitlement arises

Your entitlement to be paid an *amount under section 61-5 arises when the Commissioner gives you notice of the *assessment of your *net fuel amount for the *tax period or *fuel tax return period.

Note: In certain circumstances, the Commissioner is treated as having given you notice of the assessment when you give to the Commissioner your return (see section 155-15 in Schedule 1 to the Taxation Administration Act 1953).

61-10 Requirement to pay an assessed net fuel amount

You must pay your *assessed net fuel amount for a *tax period to the Commissioner by the day on which you are required under section 46-5 or 61-15 to give to the Commissioner your return for the tax period, if your assessed net fuel amount is greater than zero.