• Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Penalties and interest charges

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    You may be liable for a penalty if you claim more fuel tax credits than you are eligible for. You may also have to pay a general interest charge, which will be worked out from either the due date of the BAS on which you made the over claim or the BAS to which the adjustment relates.

    Penalties and the GIC may apply in either of the following circumstances:

    • you are correcting a mistake that reduces your entitlement to fuel tax credits and (as a consequence of not meeting the value and time limits), the correction must be made by revising the BAS in which the mistake occurred
    • you became aware of an adjustment that reduces your entitlement to fuel tax credits and you did not adjust the BAS for the tax period in which you became aware of that adjustment.

    If we conduct an audit or review and you must repay over claimed fuel tax credits, the general interest charge will apply and you may have to pay a penalty. You can claim general interest charges as a deduction on your business’s income tax return.

    Attention

    If you receive an overpayment of fuel tax credits, the overpaid amount should be treated as tax that is due. This means that you must repay the overpayment plus any penalties and the GIC owing from the date of the overpayment.

    End of attention
    Further information

    For more information about the rules and limits when correcting mistakes, refer to Fuel tax credits – making adjustments and correcting errors (NAT 15681).

    End of further information
      Last modified: 18 Jul 2013QC 26645