Fuel tax credit rates have changed twice recently – once on 1 July, when the road user charge increased for heavy vehicles on public roads, and again on 4 August, following the rise in the consumer price index.
According to the Australian Taxation Office (ATO), different rates apply depending on the type of fuel, when it was acquired and how it was used. If your claims are under $10,000 each year, the simplest approach is to use the rate that applies at the end of your BAS period. You can also use the ATO’s fuel tax credit calculator to check your entitlement.
When completing your BAS, the ATO has advised businesses to:
- Ensure you apportion fuel used correctly, so you claim your full entitlement.
- Lodge online or via a registered practitioner for extra time.
- Keep complete records of purchases and use.
Getting your claims right matters. If you’ve made an error, you can correct or adjust it, but accurate records and simplified methods will make the process much easier.