FTC – Fuel Tax Credits – no change to rates August 3rd

There was no increase to fuel tax credit rates on 3 August. You can continue to use the current rates to calculate your claim on your business activity statement (BAS). 

When working out your fuel tax credits:

  • Check how your fuel is used.
  • Check you’re using the right rate.
  • Use the ATO fuel tax credit calculator to help you calculate your claim.
  • Use software, including GPS trackers, correctly and ensure they record time and location accurately.
  • Keep complete and accurate records to support your claim.
  • Check your calculations to ensure you haven’t over-claimed.
  • Check if you’re eligible to use simplified methods to calculate your fuel tax credits.

Remember, if you need help working out your claim please contact us HERE.

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