Commonwealth Consolidated Acts

FUEL TAX ACT 2006 - SECT 44.10

    You have an increasing fuel tax adjustment if:

  (a)   you are or were entitled to a fuel tax credit for taxable fuel; and

  (b)   you have no reasonable prospect of using, or making a * taxable supply of, the fuel.

The * amount of the adjustment is the amount of the credit that you are or were entitled to.

Example:   You acquire taxable fuel to use in a harvester in carrying on your farming enterprise, so you are paid a fuel tax credit for the fuel. Later on, the fuel is stolen. You have an increasing fuel tax adjustment of the amount of the credit.

Note:   Division   65 sets out which tax period or fuel tax return period the fuel tax adjustment is attributable to.

Table of Subdivisions

  Guide to Division   46

46 - A   Instalment taxpayers