Changes to fuel tax credit rates

Maximise your fuel tax credits effortlessly! The ATO’s fuel tax credit calculator ensures accurate rates for your BAS, avoiding costly mistakes. Stay updated as rates change, and let us simplify the process for you.

The ATO’s fuel tax credit calculator helps you to apply the correct fuel tax credit rates when preparing your BAS.

Rates change regularly, so make sure you’re using the correct rates for the correct dates you acquired fuel.

  • On 1 July, the fuel tax credit rate for heavy vehicles (such as buses, coaches, and trucks) for travelling on public roads decreased because of the increase in the road user charge.
  • On 1 August, fuel tax credit rates increased in line with the fuel excise indexation. All fuel tax credit claimants need to apply the new rates for fuel acquired from 1 August.

To make it easier, if your business claims less than $10,000 in the year you can use the rate that applies at the end of your BAS period to work out your claim.

To make accurate claims and get fuel tax credits right on your BAS:

Remember, the team at Paris Financial is here to help you with your tax. Contact us today!


Source: ATO Newsroom

Share On:

Other News

All the latest from our small business tax champions.

Why you landed here

Phillip Anthony Partners joins Paris Financial East Melbourne

We are pleased to share that the team at Phillip Anthony Partners have merged with Paris Financial. Our team at Paris Financial can provide you with a large range of quality financial services with over 65 people located across two convenient locations in Blackburn and East Melbourne.

Paris Financial shares the same philosophy as Phillip Anthony Partners of providing a value focused and high quality service for each of our clients. We look forward to assisting with your accounting needs.