Increase in fuel tax credit rates from 1 February

Fuel tax credit rates increased on 1 February in line with fuel excise indexation.

If you claim less than $10,000 in fuel tax credits per year, the easiest and safest way to get your claims right is to use our simplified methods. These include:

  • the basic method for heavy vehicles – which works out your off-public road use for you, so you don’t miss out on any credits
  • using the rate that applies at the end of your BAS period.

When working out your fuel tax credits, remember to use our tips to help get your fuel tax credits right:

  • Check how your fuel is used.
  • Check you’re using the right rate – you may need to use different rates for fuel that was acquired before and after 1 February.
  • Use our fuel tax credit calculator to help you calculate your claim.

Remember, registered tax agents and BAS agents can help you with your tax.

Next step

Find out about

 

(ATO)
4 February 2022

Read it on Apple news

0

Like This

Categories: Tax