Completing your business activity statement
Follow the links below for more information about:
How to complete your BAS
On your BAS, you must record at fuel tax credit label 7D:
- your fuel tax credit amount for the BAS period
- any adjustments that will increase your fuel tax credit amount for the BAS period.
If you have nothing to report at label 7D, write ‘0’ – do not leave it blank.
If you need to make an adjustment in a BAS period that will decrease your fuel tax credit amount, you must include this at fuel tax credit label 7C.
Claiming for earlier BAS periods
You can do this using your current BAS, or by revising the earlier BAS when you acquired the fuel.
If you omitted fuel tax credits in an earlier BAS, and you are including it in your current BAS, you need use the fuel tax credit rate that applied back when you acquired the fuel.
Fuel tax credits and contractual arrangements
Service and supply contracts you hold may include the following:
- which party to the contract will claim the fuel tax credits on eligible fuel use
- if any increase in fuel costs can be passed on and/or any reductions can be passed back following receipt of fuel tax credits; for example, using rise and fall provisions.
Only one entity can claim fuel tax credits. Including details in the contract of how fuel costs are to be managed may help to determine which entity should claim the fuel tax credits. However, even though a contract may state that one party can claim fuel tax credits, you are only entitled to fuel tax credits if you have acquired and used the fuel in your business. If you are still not sure if you are entitled to fuel tax credits, you can apply for a private ruling.
- How to apply for a private ruling
- FTR 2007/1External Link Fuel tax: the meaning of 'acquire', 'manufacture' and 'import' in the expression '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' in the Fuel Tax Act 2006
- FTR 2009/1External Link Fuel tax: entitlement to a fuel tax credit under section 41-5 of the Fuel Tax Act 2006 in a vehicle or equipment hire arrangement.
You must self-assess your fuel tax credit claims. This means you are responsible for:
- assessing your own eligibility for fuel tax credits
- working out the dollar amount of the claim
- keeping records that support your claims.
Under self-assessment your BAS is treated as being a notice of assessment issued on the day the BAS is given to us. No other notice of assessment will be issued.
You record your fuel tax credit claim on your BAS, including information for members of GST groups, branches, joint ventures and GST instalment payers