Fuel Tax Act 2006

CHAPTER 4 - COMMON RULES  

PART 4-1 - NET FUEL AMOUNTS  

Division 60 - Net fuel amounts  

Subdivision 60-A - Net fuel amounts  

SECTION 60-5   60-5   WORKING OUT YOUR NET FUEL AMOUNT  


Your net fuel amount for a *tax period or a *fuel tax return period is worked out using the following formula:


Total fuel tax - Total fuel tax credits + Total increasing fuel tax adjustments - Total decreasing fuel tax adjustments

where:

total decreasing fuel tax adjustments
is the sum of all *decreasing fuel tax adjustments that are attributable to the period.

Note:

Division 65 sets out which tax periods or fuel tax return periods fuel tax adjustments are attributable to.

total fuel tax
is nil.

Note:

Fuel tax is currently assessed under the Excise Act 1901 , the Excise Tariff Act 1921 , the Customs Act 1901 and the Customs Tariff Act 1995 .

total fuel tax credits
is the sum of all fuel tax credits to which you are entitled that are attributable to the period.

Note:

Division 65 sets out which tax periods or fuel tax return periods fuel tax credits are attributable to.

total increasing fuel tax adjustments
is the sum of all *increasing fuel tax adjustments that are attributable to the period.

Note:

Division 65 sets out which tax periods or fuel tax return periods fuel tax adjustments are attributable to.


 

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