44‑10 Increasing fuel tax adjustment for44‑10 Increasing fuel tax adjustment for failure to use or make a taxable supply of fuel

44‑10 Increasing fuel tax adjustment for failure to use or make a taxable supply of fuel

You have an increasing fuel tax adjustment if: (a) you are or were entitled to a fuel tax credit for taxable fuel; and (b) you have no reasonable prospect of using, or making a *taxable supply of, the fuel. The *amount of the adjustment is the amount of the credit that you are or were entitled to.

Note: Example: You acquire taxable fuel to use in a harvester in carrying on your farming enterprise, so you are paid a fuel tax credit for the fuel. Later on, the fuel is stolen. You have an increasing fuel tax adjustment of the amount of the credit.

Note: Division 65 sets out which tax period or fuel tax return period the fuel tax adjustment is attributable to.