Many of our clients currently claim credits on their Business activity statements for the tax they have paid on fuels such as diesel and petrol. This rebate can quite significantly reduce a client's GST liability or be returned to them as a refund if no GST is payable. 

The most common claims are for: 

  • Fuel used in a vehicle weighing more than 4.5 tonnes (truck) on a public road 
  • Fuel used in agricultural activities, fishing & forestry 
  • Fuel used in machinery for other activities including mining, construction & manufacturing 

There are a number of other uses of fuel that could make you eligible for a fuel tax credit. So if you think you might be eligible please give us a call. 

Changes to Fuel Tax Credits

From 1 July 2012 the new carbon tax legislation will result in changes to the fuel tax credit system. 

Everyone is advised to keep records of when fuel purchases are made, what type of fuel was acquired and what type of activity it was used for. Changes to the fuel tax credit rates are going to happen progressively through until 30 June 2015 and good records will assist us in making sure your claims are correct. 

The new rates that come into effect from 1 July 2012 are as follows 

  • For fuel used in a vehicle weighing more than 4.5 tonnes on a public road the rebate has been reduced from 15.043 cents per litre to 12.643 cents per litre 
  • For fuel used in agricultural activities, fishing & forestry the rebate stays the same at 38.143 cents per litre 
  • For fuel used in machinery for other activities including mining, construction & manufacturing the rate has increased from 19.0715 cents per litre to 32.623 cents per litre for petrol and 31.933 cents per litre for diesel.