Acts and Regulations

2012-14 - Gasoline and Motive Fuel Tax Act

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NEW BRUNSWICK
REGULATION 2012-14
under the
Gasoline and Motive Fuel Tax Act
(O.C 2012-67)
Filed March 12, 2012
1New Brunswick Regulation 82-81 under the Gasoline and Motive Fuel Tax Act is amended by adding after section 16 the following:
LOSSES OF GASOLINE AND MOTIVE FUEL
16.1(1)This section applies to a collector who does not own a bulk plant.
16.1(2)For the purposes of section 7.01 of the Act and this section, the prescribed threshold for an unverifiable loss of gasoline or motive fuel is 0%.
16.1(3)A collector’s excess unverifiable losses of gasoline or motive fuel for a given period of time is calculated using the following formula:
A + B - C - D
3where
Ais the opening inventory of all gasoline or motive fuel owned by the collector at the beginning of the period,
Bis the volume of gasoline or motive fuel in litres that is produced, received or purchased by the collector during the period,
Cis the closing inventory of all gasoline or motive fuel owned by the collector at the end of the period, and
Dis the volume of gasoline or motive fuel in litres that the collector verifies to have been sold, destroyed, stolen, contaminated, consumed, delivered or otherwise made unavailable for sale or consumption during the period.
16.2(1)This section applies to a collector who owns one or more bulk plants.
16.2(2)For the purposes of section 7.01 of the Act and this section,
(a) the prescribed threshold for an unverifiable loss of gasoline at each bulk plant owned by the collector is 0.5%, and
(b) the prescribed threshold for an unverifiable loss of motive fuel at each bulk plant owned by the collector is 0.25%.
16.2(3)The volume of gasoline or motive fuel in litres that a collector is accountable for at each bulk plant owned by the collector and for a given period of time is calculated using the following formula:
E + F - G
3where
Eis the opening inventory of gasoline or motive fuel at the bulk plant at the beginning of the period,
Fis the volume of gasoline or motive fuel in litres that is produced or received at or purchased for the bulk plant during the period, and
Gis the closing inventory of gasoline or motive fuel at the bulk plant at the end of the period.
16.2(4)A collector’s unverifiable losses allowance for gasoline or motive fuel at each bulk plant the collector owns and for a given period of time is calculated using the following formula:
H × I
4where
His the volume of gasoline or motive fuel in litres that a collector is accountable for at the bulk plant for the period as calculated under subsection (3), and
Iis the prescribed threshold for gasoline or motive fuel referred to in subsection (2).
16.2(5)Subject to subsection (6), a collector’s unverifiable losses of gasoline or motive fuel at each bulk plant the collector owns and for a given period of time is calculated using the following formula:
H - J
5where
His the volume of gasoline or motive fuel in litres that a collector is accountable for at the bulk plant for the period as calculated under subsection (3), and
Jis, in relation to the bulk plant, the volume of gasoline or motive fuel in litres that the collector verifies to have been sold, destroyed, stolen, contaminated, consumed, delivered or otherwise made unavailable for sale or consumption during the period.
16.2(6)For the purposes of subsection (5), if the amount for J is greater than the amount for H at a bulk plant, the collector’s unverifiable losses of gasoline or motive fuel at that bulk plant shall be deemed to be zero.
16.2(7)A collector’s excess unverifiable losses of gasoline or motive fuel for a given period of time is calculated using the following formula:
K + L - M - N - O1 - O2 - O3 -...
7where
Kis the opening inventory of all gasoline or motive fuel owned by the collector at the beginning of the period and all gasoline or motive fuel for which the collector is accountable at the beginning of the period,
Lis the volume of gasoline or motive fuel in litres that is produced, received or purchased by the collector during the period,
Mis the closing inventory of all gasoline or motive fuel owned by the collector at the end of the period and all gasoline or motive fuel for which the collector is accountable at the end of the period,
Nis the volume of gasoline or motive fuel in litres that the collector verifies to have been sold, destroyed, stolen, contaminated, consumed, delivered or otherwise made unavailable for sale or consumption during the period, and
Ois the lesser of the amounts determined under subsections (4) and (5) for each bulk plant for the period.
2This Regulation shall be deemed to have come into force on January 1, 1997.