Commonwealth Consolidated Acts

FUEL TAX ACT 2006 - SECT 60.5

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

    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.