Document ID: chunk:federal_register_of_legislation:C2021C00299:section:2:p8
Version: federal_register_of_legislation:C2021C00299
Segment Type: section
Provision Reference: s 2 (pt 8/13)
Character Range: 41549–44164

the 4‑year period;
you do not cease under subsection 47‑5(1) to be entitled to a fuel tax credit for the fuel to the extent that, had the Commissioner agreed to the request before the end of the 4‑year period, you would not cease under that subsection to be entitled to the credit.

Chapter 4—Common rules

Part 4‑1—Net fuel amounts

Division 60—Net fuel amounts

Table of Subdivisions
 Guide to Division 60
60‑A Net fuel amounts

Guide to Division 60

60‑1  What this Division is about

      Your net fuel amount reflects how much you or the Commissioner must pay. A positive net fuel amount reflects how much you must pay the Commissioner. A negative net fuel amount reflects how much the Commissioner must pay you.
      Your net fuel amount is worked out for each tax period (or fuel tax return period if you are not registered, nor required to be registered, for GST).

Subdivision 60‑A—Net fuel amounts

Table of Sections
60‑5 Working out your net fuel amount
60‑10 Determinations relating to how to work out net fuel amounts

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.
Note: Division 65 sets out which tax periods or fuel tax return periods fuel tax adjustments are attributable to.
total fuel tax is nil.
Note: 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.
Note: 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.
Note: Division 65 sets out which tax periods or fuel tax return periods fuel tax adjustments are attributable to.

60‑10  Determinations relating to how to work out net fuel amounts
 (1) The Commissioner may make a determination that, in the circumstances specified in the determination, a *net fuel amount for a *tax period or a *fuel tax return period may be worked out to take account of other matters in the way specified in the determination.
 (2) The matters must relate to correction of errors that were made in working out *net fuel amounts to which subsection (3) or (4) applies.
 (3) This subsection applies to a *net fuel amount for a *tax