Working out your net fuel amount
60-5 Working out your net fuel amount
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.
Division 65 sets out which tax periods or fuel tax return periods fuel tax adjustments are attributable to.
total fuel tax is nil.
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.
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.
Division 65 sets out which tax periods or fuel tax return periods fuel tax adjustments are attributable to.
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