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CHANGES TO FUEL TAX CREDIT RATES

Wednesday, 23 August 2017

Fuel Tax Credit rates changed on 1 July 2017 and again on 1 August 2017.

Fuel tax credit rates changes are indexed twice a year, in February and August, in line with the Consumer Price Index (CPI). Rates may also change in July for fuel used in a heavy vehicle for travelling on public roads. This is due to changes to the road user charge, which is reviewed annually. Rates also change in July due to an annual increase in excise duty rates on biofuels.

For BAS Agent’s clients claiming less than $10,000 in fuel tax credits in a year, there are simpler ways to record and calculate claim. This includes using the rate that applies at the end of the BAS period.

Fuel tax credit rates from 1 July and 1 August 2017 for different fuels and different usage are outlined in the link below.

 

Click below to view source

ATO: Fuel Tax Credits - From 1 July 2017

ATO: Fuel tax credits – business

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