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  • Definitions

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    Activity statement

    You use an activity statement to report your business tax entitlements and obligations, including GST, WET, LCT, fuel tax credits (as applicable), pay as you go (PAYG) instalments, PAYG withholding and fringe benefit tax instalments. From 1 July 2012, we will be taken to have made an assessment of an assessable amount worked out in accordance with information stated in your activity statement. Your activity statement is taken to be your notice of assessment, given to you on the date your activity statement is given to us.

    Assessable amount

    A net amount, net fuel amount, other indirect tax amount or a credit under an indirect tax law is an assessable amount.

    Customs

    Australian Border Force.

    Fuel tax credits

    You can claim a credit for taxable fuel that you acquire or manufacture in, or import into, Australia to the extent that you do so for use in carrying on your enterprise. The amount of fuel tax credits you can claim depends on when you acquired the fuel, what fuel you use and the activity you use it in.

    You can also claim fuel tax credits if you are a householder using fuel to generate domestic electricity or non-profit organisation that is not required to be registered for GST, operating emergency vehicles or vessels. You will claim these credits on a claim form.

    Fuel tax return period

    If you are not registered for GST, nor required to be registered for GST, your fuel tax return period is the period specified in the claim form.

    GST credits

    You can claim a credit for the GST included in the price of goods or services you purchase for your business, unless you use the purchase to make input-taxed sales.

    If you use the purchase partly for private purposes, you will not be able to claim a credit for the full amount of GST, only for the amount that relates to business use.

    Net fuel amount

    The net fuel amount is the amount of fuel tax credit entitlements, taking into account any adjustments, for a tax period or fuel tax return period.

    Particular

    A particular is an individual element that results in an increase or decrease in the assessable amount for a tax period. For indirect tax, a particular can be about a single sale or a single purchase, provided it individually results in a change to the net amount or net fuel amount.

    Tax period

    A tax period may be monthly, quarterly or annually, and refers to how frequently you lodge your activity statement.

    See also:

      Last modified: 07 Nov 2017QC 25975