If you've already claimed fuel tax credits based on your intention to use the fuel in a certain way, but actually use it differently, you need to make an adjustment to your BAS.
- You claimed fuel tax credits, but you used more fuel than intended – this would increase your fuel tax credit amount. Report this at label 7D.
- You use less fuel than originally intended, or you claimed fuel tax credits for fuel that subsequently is lost, stolen or otherwise disposed of – your entitlement would decrease. Report this at label 7C.
When calculating the dollar amount of your adjustment, apply the fuel tax credit rate that applied at the time you made your original claim.
Remember, fuel tax credits are part of your business income and need to be included in your tax return at ‘Assessable government industry payments’.
If you realise you have made an error on an earlier BAS, you must correct it. There are rules and limits about making corrections to your BAS depending on when the error occurred (time limits) and the dollar value of the error (value limits).
See also:An adjustment is needed when you have already claimed fuel tax credits and the way you intended to use the fuel changed.