S 43-5(1) amended by No 8 of 2019, s 3 and Sch 8 item 26, by substituting " fuel tax credit " for " tax fuel credit " , effective 1 April 2019.

S 43-5(1) substituted by No 83 of 2014, s 3 and Sch 1 item 121, applicable to taxable fuel acquired, manufactured or imported on or after 1 July 2014. S 43-5(1) formerly read:

43-5(1)
The *amount of your fuel tax credit for taxable fuel (other than a fuel tax credit to which you are entitled under Division 42A ) is the amount (but not below nil) worked out using the following formula:

*Amount of *effective fuel tax − *Amount of *carbon reduction

Note:

The amount of the credit might be reduced under section 43-10 or 43-11 .

S 43-5(1) amended by No 84 of 2012, s 3 and Sch 2 item 81, by inserting " (other than a fuel tax credit to which you are entitled under Division 42A) " , effective 1 July 2012.

S 43-5(1) substituted by No 157 of 2011, s 3 and Sch 1 item 11, applicable to fuel acquired, manufactured or imported on or after 1 July 2012. S 43-5(1) formerly read:

43-5(1)
The *amount of your fuel tax credit for taxable fuel is the amount of *effective fuel tax that is payable on the fuel.

Note:

The amount of the credit might be reduced under section 43-10 .

S 43-5(2) substituted by No 68 of 2011, s 3 and Sch 1 item 26, applicable to fuel acquired, manufactured or imported on or after 1 December 2011. S 43-5(2) formerly read:

43-5(2) Amount of effective fuel tax  

The *amount of effective fuel tax that is payable on the fuel is the amount (but not below nil) worked out using the following formula:

Fuel tax amount

−

Grant or subsidy amount

where:

fuel tax amount
means the *amount of fuel tax that was or would be payable on the fuel:

(a) if you are *registered for GST, or *required to be registered for GST - at the rate in force at the beginning of the *tax period to which the credit is attributable; and

(b) if you are not registered for GST, nor required to be registered for GST - at the rate in force on the day on which the Commissioner receives your return relating to the fuel.

Note:

Division 65 sets out which tax period a credit is attributable to.

grant or subsidy amount
means the *amount of any grant or subsidy that was or would be payable in respect of the fuel by the Commonwealth:

(a) if you are *registered for GST, or *required to be registered for GST - at the rate in force at the beginning of the *tax period to which the credit is attributable; and

(b) if you are not registered for GST, nor required to be registered for GST - at the rate in force on the day on which the Commissioner receives your return relating to the fuel.

Note 1:

Division 65 sets out which tax period a credit is attributable to.

Note 2:

Subsection (4) affects how this formula applies to some blends of petrol or diesel.

S 43-5(2A) substituted by No 133 of 2014, s 3 and Sch 4 item 1, applicable in relation to: (a) a tax period that starts on or after 1 July 2014; or (b) a fuel tax return period, if the return for that period is lodged on or after 1 July 2014. S 43-5(2A) formerly read:

Day for rate of fuel tax, grant or subsidy

43-5(2A)
Work out the day using the table:

Day for rate of fuel tax, grant or subsidy
	If:	The day is:
1	You: (a) acquired or imported the fuel after 30 November 2011 and before 1 July 2015; and (b) are *registered for GST or *required to be registered for GST	The day you acquired or imported the fuel
2	You: (a) manufactured the fuel; and (b) entered the fuel for home consumption (within the meaning of the Excise Act 1901 ) after 30 November 2011 and before 1 July 2015; and (c) are *registered for GST or *required to be registered for GST	The day you entered the fuel for home consumption (within the meaning of the Excise Act 1901 )
3	You: (a) acquired, manufactured or imported the fuel after 30 June 2015; and (b) are *registered for GST or *required to be registered for GST	The first day of the *tax period to which the credit is attributable
4	You are neither *registered for GST nor *required to be registered for GST	The day the Commissioner receives your return relating to the fuel

Note:

Division 65 sets out which tax period a credit is attributable to.

S 43-5(2A) inserted by No 68 of 2011, s 3 and Sch 1 item 26, applicable to fuel acquired, manufactured or imported on or after 1 December 2011.

S 43-5(3) substituted by No 81 of 2015, s 3 and Sch 1 item 16, effective 1 July 2015. S 43-5(3) formerly read:

43-5(3) Exclusions from grant or subsidy amount  

In applying subsection (2), the following grants are disregarded:

(a) a grant under the Biofuels Capital Grants Program;

(b) (Repealed by No 73 of 2006)

(c) a grant for petrol or diesel under the Energy Grants (Cleaner Fuels) Scheme Act 2004 ;

(d) a benefit under the Product Stewardship (Oil) Act 2000 .

S 43-5(3) amended by No 73 of 2006, s 3 and Sch 3 item 39, by repealing para (b), effective 1 July 2012. Para (b) formerly read:

(b) a grant for on-road alternative fuel under the Energy Grants (Credits) Scheme Act 2003 ;

S 43-5(4) repealed by No 83 of 2014, s 3 and Sch 1 item 122, applicable to taxable fuel acquired, manufactured or imported on or after 1 July 2014. S 43-5(4) formerly read:

Fuel tax credit to which you are entitled under Division 42A

43-5(4)
If you are entitled to a fuel tax credit under Division 42A for taxable fuel, the amount of the fuel tax credit is the amount of *carbon reduction that applies to the fuel that you acquired, manufactured or imported.

S 43-5(4) inserted by No 84 of 2012, s 3 and Sch 2 item 82, effective 1 July 2012.

Former s 43-5(4) repealed by No 68 of 2011, s 3 and Sch 1 item 27, applicable to fuel acquired, manufactured or imported on or after 1 December 2011. S 43-5(4) formerly read:

43-5(4) Amount of effective fuel tax for blends of petrol and diesel  

The effective fuel tax for taxable fuel that:

(a) is a blend of more than one kind of fuel; and

(b) meets a fuel standard, under the Fuel Quality Standards Act 2000 , for petrol or diesel;

is worked out under subsection (2) as if the fuel were entirely that kind of petrol or diesel (as the case requires).

S 43-5(5) repealed by No 83 of 2014, s 3 and Sch 1 item 122, applicable to taxable fuel acquired, manufactured or imported on or after 1 July 2014. S 43-5(5) formerly read:

43-5(5)
For the purposes of subsection (4), disregard paragraph 43-8(4)(b) .

S 43-5(5) inserted by No 84 of 2012, s 3 and Sch 2 item 82, effective 1 July 2012.