Payment of the Subsidy
Provisional subsidy payment
The provisional payment is paid 5 days in advance of the sales month for which the payment is made and is made electronically into your nominated account.
Your provisional payment may be adjusted through the year in line with your actual claims.
To ensure that your provisional payment reflects your actual fuel sales as closely as possible, you are required to advise the Office of State Revenue as soon as possible when any of your sites (ceasing or commencing a new site) change.
To ensure timely payment of your Subsidy, you are also required to advise the Office of State Revenue if your bank details change.
Calculating the payments (with example)
A provisional payment is paid to you monthly in advance to ensure your business is not adversely affected by providing the Subsidy to Queensland fuel consumers. The provisional payment is paid to retailers on a monthly basis.
For most retailers:
- your first and second monthly payments will be equal to 1/12 of the retail sales (in litres) that you made during the previous financial year, multiplied by an indexation factor and the Subsidy rate.
- Future monthly payments will be adjusted to reflect your actual sales for earlier months, as follows.
- the Office of State Revenue will reconcile the difference between what you are paid in advance for a particular month against the amount of subsidy you claimed for that month, every time you submit your monthly claim form.
EXAMPLE
| Initial provisional payment (for December 2002) |
$12,500 |
| Retail sales made in December 2002 |
$14,000 |
- On 25 November 2002, you receive a provisional Subsidy payment of $12,500 for expected retail sales in the month of December. This amount is based on 1/12th of your retail sales for 2001 - 2002.
- On 14 January 2003, you lodge a Subsidy claim for the retail sales you made during December 2002, totalling $14,000.
- On 26 January 2003, you receive a payment of $14,000, which reflects a provisional payment of $12,500 for expected sales in the month of February 2003 plus a $1,500 adjustment for actual December 2002 sales.
