Fuel tax credit rates have gone up effective from the 3rd February 2020.

Before completing your next activity statement make sure you visit the table below to ensure you are using the updated rates:

Fuel Tax Credit Rates: Effective from 3rd February 2020

SOURCE: ATO website

If you are claiming under $10,000 in fuel tax credits per year, you have the option to calculate your claim using the relevant rate at the end of that BAS period.

It’s important to note changes effecting fuel tax credits for fuel being used to power passenger air-conditioning units of heavy machinery, like buses and coaches. From the 1st November 2019 you must claim the fuel tax credits using the “heavy vehicles for travelling on public roads” rate. Fuel acquired prior to 1st November 2019 can still use the “all other business use” rate.

This will mean when completing your December quarter BAS you may need to use two different rates.

If you have any questions or need any assists in calculating your fuel tax credit please do not hesitate to contact our office 03 9974 8333.