Fuel tax credit rates have increased, here’s what to do

Simple steps to help you claim correctly and avoid mistakes.

Fuel tax credit rates increased on 2 February. Applying the correct rate is essential to ensure you receive your full entitlement and avoid errors.

The easiest way to get it right is to use ATO’s fuel tax credit calculator. It applies the correct rates automatically, calculates your credits, and supports simplified methods for claims under $10,000.

When completing your BAS, remember to:

• check you’re apportioning correctly, separate fuel used on and off public roads or to power auxiliary equipment, so you can claim correctly
• keep clear records of your fuel purchases and how fuel is used in your business.

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Source: ATO