Fuel Tax Credit
Fuel tax credit rates change regularly. They are indexed twice a year, in February and August, in line with the consumer price index (CPI).
Rates may also change in July for fuel used in a heavy vehicle for travelling on public roads. This is due to changes to the road user charge, which is reviewed annually. In July, rates also change due to an annual increase in excise duty rates on bio fuels.
Current Fuel Tax Credit Rates
- From 1 July 2018 to 30 June 2019 (includes rates from 1 August 2018 and 4 February 2019.
If you claim less than $10,000 in fuel tax credits in a year, there are simpler ways to records and calculate your claim. This includes using the rate that applies at the end of the BAS period.
Past Fuel Tax Credit Rates
There are time limits for claiming fuel tax credits, making adjustments and correction errors – generally, you must claim or amend your claim within four years.
- From 1 July 2017 to 30 June 2018 (includes rates from 1 August 2017 and 5 February 2018)
- From 1 July 2016 to 30 June 2017 (includes rates from 1 August 2016 and 1 February 2017)
- 1 July 2015 to 30 June 2016 (includes rates from 1 August 2015 and 1 February 2016)
- 1 July 2014 to 30 June 2015 (includes rates from 10 November 2014 and 2 February 2015
The Money Edge | Bundaberg