Commonwealth Consolidated Acts

FUEL TAX ACT 2006 - SECT 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.

Amount of effective fuel tax

             (2)  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:

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.

Exclusions from grant or subsidy amount

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

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

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

                     (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 .

Amount of effective fuel tax for blends of petrol and diesel

             (4)  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).