Commonwealth Numbered Acts Commonwealth Numbered Acts(1) You must not take into account, in your * net fuel amounts for * tax periods ending in a * financial year, a total of more than $3 million of fuel tax credits arising under section 41‑5 unless the * Environment Secretary has determined that you are a member of one of the following programmes:
(a) the * Greenhouse Challenge Plus Programme;
(b) another programme determined, by legislative instrument, by the * Environment Minister for the purposes of this section.
Note: If an entity has GST branches, all of the entity’s and the entity’s branches’ fuel tax credits are to be taken into account in applying the $3 million threshold.
(2) You have a decreasing fuel tax adjustment if:
(a) you were not entitled in a * financial year to take into account the whole or a part of a fuel tax credit under subsection (1); and
(b) you become a member of a programme mentioned in subsection (1) within 4 years after the end of the financial year.
The * amount of the adjustment is the amount of the credit that you were not entitled to take into account.
Note: Division 65 sets out which tax period the fuel tax adjustment is attributable to.
Definition
(3) The Greenhouse Challenge Plus Programme means the Greenhouse Challenge Plus Programme as set out in the Greenhouse Challenge Plus Programme Framework 2005, as amended from time to time.
Table of Subdivisions
Guide to Division 46
46‑A Instalment taxpayers
Guide to Division 46