Fuel Tax Act 2006

If you are *registered for GST, or *required to be registered for GST, your fuel tax credit for taxable fuel that you acquire or import is attributable to:

the same *tax period that your *input tax credit for the fuel is attributable to under the *GST Act; or

the same tax period that an input tax credit would have been attributable to under that Act if the fuel had been a *creditable acquisition or a *creditable importation.

If you are neither *registered for GST, nor *required to be registered for GST, your fuel tax credit for taxable fuel that you acquire or import is attributable to the *fuel tax return period in which you acquire or import the fuel.

Your fuel tax credit for taxable fuel that you manufacture is attributable to the *tax period or *fuel tax return period in which the fuel was entered for home consumption (within the meaning of the Excise Act 1901).

Subsections (5) and (6) apply to a fuel tax credit to the extent that:

the fuel tax credit would otherwise be attributable to a particular *tax period or *fuel tax return period; and

the fuel tax credit has not been taken into account in an *assessment of a *net fuel amount of yours for that period.

For another attribution rule for fuel tax credits, see subsection 46‑5(4) (GST instalment taxpayers).

To the extent this subsection applies to the fuel tax credit, you may, by notifying the Commissioner in the *approved form, elect for:

the fuel tax credit not to be attributable to that *tax period or *fuel tax return period; and

the fuel tax credit to be attributable to a later specified tax period or fuel tax return period.

Division 47 may provide a time limit on your entitlement to a fuel tax credit.

You cannot revoke or amend an election you make under subsection (5).