Fuel tax credit rates increase now effective

The fuel tax credit rates increased on 5 February 2018 in line with fuel excise indexation.

The Australian Taxation Office (ATO) has warned of the regular changes in fuel tax credit rates and is advising businesses to check the current rates each time a business activity statement (BAS) is lodged.

The ATO recently delivered a webinar for tips on claiming fuel tax credits, providing detail on how claiming on BAS’s can be made easier.

The recording can be viewed on the ATO website here and covers:

• Why and when rates change and how to work out the rate applicable to you
• Records that you are required to keep
• Tools and tips to help save time and getting the right claim, including simplified ways if the claim is less than $10,000 in fuel tax credits in a financial year.

 

Last updated: 16th February 2018