s 44-10
In forceIncreasing fuel tax adjustment for failure to use or make a taxable supply of fuel
Chapter 3Fuel tax credits
Part 3-1Basic rules
Division 44Increasing and decreasing fuel tax adjustments
Subdivision 44-AIncreasing and decreasing fuel tax adjustments
44-10 Increasing fuel tax adjustment for failure to use or make a taxable supply of fuel
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.
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