Fuel tax: fuel tax credits for taxable fuel acquired or manufactured in, or imported into, Australia for use in carrying on an enterprise involving 'fishing operations' as defined in section 43-70 of the Fuel Tax Act 2006

This Ruling explains an entity's entitlement to a fuel tax credit with a nil carbon reduction amount under the FT Act for taxable fuel it acquires or manufactures in, or imports into, Australia to the extent that it does so for use in carrying on an enterprise which involves activities that are within the meaning of 'fishing operations' in section 43-70 of the FT Act.

This Ruling is withdrawn and ceases to have effect on 1 July 2014, the date of repeal of Subdivision 43-B of the FT Act. This Ruling continues to apply, in respect of the fuel tax law ruled upon, to all taxpayers within the specified class who acquire, manufacture in, or import into, Australia taxable fuel in the period Subdivision 43-B was in force; being 1 July 2012 up to and including 30 June 2014. Thus, the Ruling continues to apply to those taxpayers, even following its withdrawal, in respect of taxable fuel acquired, manufactured in or imported into Australia during this period (see paragraph 46 of TR 2006/10).