Wed 29 Jun 2016
From 1 July 2016 fuel tax credit rates are changing:
From 1 July 2016, fuel tax credit rates will change for:
– fuel used in heavy vehicles traveling on public roads that use taxable fuel such as diesel or petrol. This is due to a change in the road user charge (RUC) which is reviewed annually.
– biodiesel and fuel ethanol manufactured in Australia, as excise duty rates will take effect for biofuels.
Fuel tax credit rates are indexed twice a year, in February and August, in line with the consumer price index (CPI)
CLICK HERE to view the new fuel tax credit rates on our website.
Simplified fuel tax credits:
We have tools available to help your members calculate their fuel tax credit claims and work out which of their business activities are eligible. These include:
• Fuel tax credit calculator
• Fuel tax credit eligibility tool
• Simplified ways to calculate fuel tax credit claims for businesses that claim less than $10,000 in fuel tax credits each year
What we ask you to do:
We encourage you to inform your members of these fuel tax credit rate changes and to remind members that fuel tax credit rates will change again on 1 August 2016 in line with the CPI.