Don’t miss out on GST credits and fuel tax credits

You need to claim GST credits and fuel tax credits within 4 years.

If you’re registered for GST and you make a business purchase, you may be eligible to claim the GST you paid in the purchase price as a credit.

GST credits offset the GST you need to pay when you lodge your business activity statement (BAS). This will reduce the amount of GST you owe and may result in a refund.

If you’re also eligible for fuel tax credits, you can claim credits for the tax included in the price of fuel you use in your business.

The best way to ensure you don’t miss out on any credits is to lodge your BAS on time.

How long do you have to claim?

You need to claim your GST and fuel tax credits within 4 years of the due date of the earliest BAS in which you could have made your claim for the relevant credit. If you don’t claim the credits within that time, you’ll no longer be eligible to claim them.

The credits must be included in your assessment within the 4-year credit time limit. Lodging an amendment to your original assessment or a private ruling request does not mean you have claimed your GST credits and fuel tax credits.

There are a number of options for claiming a credit other than requesting us to amend your original assessment to include the credits. You can:

• Claim the credits yourself by including them in your next BAS, provided that BAS is lodged within the 4-year credit time limit.
• Lodge a Revised BAS (RBAS) for the original period via Online Services during the 4-year credit time limit (however, this is treated the same as an amendment request and so the credits will not be included in your assessment until the RBAS is processed by us.
• Lodge a valid objection during the 4-year credit time limit to preserve your entitlement to those credits.

ATO recommend you consider your options early and do not leave your credit claims to the last minute because you risk your credit expiring.

Remember to keep accurate records to support your claims and get help from your registered tax or BAS agent if you need it.

To learn more about the 4-year credit time limit, visit Time limit on GST credits.

Fuel tax credit rates changed on 1 July 2024 and 5 August 2024. Read ATO tips for claiming fuel tax credits on your BAS.