Fuel tax credits provide businesses with a credit for the fuel tax (excise or customs duty) that's included in the price of fuel used in:

  • Machinery
  • Plant
  • Equipment
  • Heavy vehicles
  • Light vehicles travelling off public roads or on private roads

Fuel tax credit rates increased on 5 August 2019 in line with fuel excise indexation.

Eligibility

To make a claim for fuel tax credits you must be registered for:

  • GST when you acquired the fuel
  • Fuel Tax Credits when you lodge the claim

You can claim fuel tax credits for eligible fuel you acquired, manufactured or imported and use in your business. If you would like to check if your business activities are eligible and what rates apply the ATO has a great tool that can assist:

https://www.ato.gov.au/calculators-and-tools/Host/?anchor=FTCEL#FTCEL/questions

It's important to keep good records

Don't forget to keep records to support your fuel tax credit claims. If you claim less than $10,000 in fuel tax credits per year, you can use simplified record keeping. The following records will be sufficient to support your claims providing you can show the fuel was used in your business:

  • contractor statements
  • financial institution statements
  • point-of-sale dockets
  • fuel supplier invoices.

Good record keeping is important for the health of your business as it gives you an accurate picture of how your business is going.

If you would like to discuss your eligibility or registration requirements, please contact your PJT Advisor on 5413 9300.