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s 46-5

Instalment taxpayers

In force
Chapter 3Fuel tax credits
Part 3-3Special rules
Division 46Instalment taxpayers
Subdivision 46-AInstalment taxpayers

46-5 Instalment taxpayers

(1)

If you are a *GST instalment payer, you must treat each *GST instalment quarter as if it were a *tax period.

GST instalment quarters to be treated as tax periods

(2)

For the purposes of working out under subsection 65‑5(1) which *GST instalment quarter a fuel tax credit is attributable to, you must treat each GST instalment quarter as if, in the *GST Act, the quarter were a *tax period.

Choice to give a return for first 3 quarters

(3)

You may choose whether to give the Commissioner a return for any of the first 3 *GST instalment quarters in a *financial year. If you do so, you must give the Commissioner your return on or before the day on which you are, or would be, required to pay your *GST instalment to the Commissioner for the quarter (disregarding section 162‑80 of the *GST Act).

Note:

Section 162‑80 of the GST Act allows certain entities to pay only 2 GST instalments for a financial year.

(4)

If you choose not to give a return for any of those quarters, then any fuel tax credit or *fuel tax adjustment that is attributable to that quarter:

(a)

ceases to be attributable to that quarter; and

(b)

becomes attributable to the first quarter for which you give the Commissioner a return.

Note:

See subsection 65‑5(4) if your assessment for a quarter does not include a fuel tax credit that is attributable, under this subsection, to the quarter.

Requirement to give a return for final quarter

(5)

If you have an *increasing fuel tax adjustment that is (or, under subsection (4), would be) attributable to the last *GST instalment quarter in the *financial year, you must give the Commissioner a return for that quarter on or before the day on which you are, or would be, required to pay your *GST instalment to the Commissioner for the quarter (disregarding section 162‑80 of the *GST Act).

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