Introduction to Fuel Tax Credits

Andrew Halligan • May 29, 2012

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.

< Older Post Newer Post >

COVID-19 Stimulus Package - Coronavirus Income Support Supplement Payments

By Daniel Mangiameli • March 24, 2020

A $550 fortnightly Coronavirus supplement, to commence from 27 April for an initial six month period, will be paid to eligible recipients. Eligibility Permanent employees who are stood down or lose their employment, sole traders, the self-employed, casual workers and contract workers. This payment is in addition to the JobSeeker Payment under expanded accessibility Existing and new recipients of the JobSeeker Payment, Youth Allowance JobSeeker, Youth Allowance Student, Parenting Payment, Farm Household Allowance, Special Benefit If you're already receiving one of the welfare payments listed above, you don't actually have to do anything. Services Australia will automatically pay the Coronavirus Supplement to eligible recipients each fortnight. If you're not currently receiving welfare, you'll need to apply online at MyGov using a Centrelink account or contact Services Australia by phone. If you require further information on any of the above, require assistance in working out your eligibility or h

COVID-19 Stimulus Package - Apprentices & Trainees

By Daniel Mangiameli • March 24, 2020

In line with the second economic response package, the federal government is supporting small business to retain their apprentices and trainees. Wages subsidies will be paid to eligible employers equal to 50% of their apprentices/trainees wages from 1 January 2020 to 30 September 2020. Employers who are eligible will be reimbursed up to a maximum of $21,000 per apprentice/trainee. Eligibility The subsidy will be available to small businesses employing fewer than 20 full-time employees who retain an apprentice or trainee as at 1 March 2020. Has re-employed a displaced apprentice/trainee, who was employed by a small business at 1 March 2020 but who has since been released from their apprenticeship/traineeship by their employer. Employers will be able to access the subsidy after an eligibility assessment is undertaken by an Australian Apprenticeship Support Network (AASN) provider. Employers will be able to access the subsidy after an eligibility assessment is undertaken by an Australian

COVID-19 Stimulus Package - Boosting Cash Flow Employer Payments

By Daniel Mangiameli • March 23, 2020

COVID-19 Stimulus Package – Boosting Cash Flow Employer Payments