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Stock control and ATO access for fuel and petroleum products

Understand your responsibilities if your business has an excise licence and stocks excisable fuel and petroleum products.

Last updated 14 May 2023

Stock control

As an excise licence holder, you have specific responsibilities for your stock of excisable fuel and petroleum products. You're responsible for the excisable goods in your possession, custody or control.

We may require you to pay an amount equal to the excise duty that would have been payable on the goods if you:

  • fail to keep those goods safe
  • can't account for them to our satisfaction.

Stocktakes – general requirements

You need to conduct regular stocktakes to:

  • check the accuracy of your stock records
  • identify omissions or errors in stock records
  • identify security issues (such as theft)
  • identify problems with plant and equipment.

Accounting for the theft of underbond stocks is the responsibility of the licence holder. You need to pay duty on any stock that has been stolen. Contact us for advice if underbond stock has been stolen.

Stocktakes – for excisable fuel products

You should do stocktake surveys monthly, or quarterly at a minimum.

You should conduct your stocktake on a floor-to-book basis.

Duty is payable on stock that you can't account for. You must:

  • tell us as soon as possible about stock losses that are outside normal loss parameters
  • record any stock gains
  • ensure any stock gains are taken up as underbond stock in your records.

In some situations, you may offset survey gains against unaccounted shortages when you calculate duty payable on packaged stock losses.

Contact us for advice about what to do in these situations.

Destroying stock

You need our permission before you destroy any excisable fuel or petroleum products.

ATO access to your premises

You must give ATO officers complete access, at all times, to every part of any factory, approved place or other premises specified in a licence.

Our officers may examine and take account of excisable goods in your premises and vehicles.