Changes to Fuel Tax Credits

There are now simpler ways to keep your records and calculate fuel tax credits.

Do you claim less than $10,000 in fuel tax credits each year?

For the March 2016 BAS and onwards, you can:

› use the rate that applies at the end of the BAS period

› work out your litres based on the cost of the fuel purchased

Do you use heavy vehicles mainly off-public roads

The ATO created a list of heavy vehicles that they consider to be used mainly off public roads – for example, a tractor or backhoe loader. If your vehicle is on this list, you don’t need to apportion on and off-road travel when calculating fuel tax credits. For the March 2016 BAS and onwards you can claim all fuel used in this vehicle at the ’all other business uses’ rate – even if you sometimes drive it on a public road. To get the list go to Fuel tax credits – Heavy vehicles.

Remember, fuel tax credit rates increased on 1 February 2016.

As always, we are here to help. Give us a call anytime on (02) 4962 2022 if you’d like to know how the changes to the fuel tax credits system affects you.