Navigating fuel tax credits

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(ATO)
12 October 2021

 

Fuel tax credits provide your business with a credit for the fuel tax (excise or customs duty) that’s included in the price of fuel.

If you claim less than $10,000 in fuel tax credits per year, the easiest and safest way to get your claims right is to use our simplified methods. These include:

  • the basic method for heavy vehicles – which works out your off public road use for you, so you don’t miss out on any credits
  • the rate that applies at the end of your BAS period – if there is a change in rate during the BAS period, you don’t need to split your fuel purchases and use two different rates.
  • Global positioning system (GPS) technology can also be a useful tool when calculating your fuel tax credit claims. Make sure it has an ATO product or class ruling as this will give you various levels of assurance that your GPS product is producing accurate reports and claims for fuel tax credit purposes.

Remember, your registered tax agent can help you work out your fuel tax credits or to find out if your GPS product has a product or class ruling. You can also refer to the Legal database.

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