Fuel Tax Credit rates have changed! From the 4th of February the rates are;
- Off road use 41.6 c/l (Liquid Fuels)
- On road use 15.8 c/l (Liquid Fuels)
There are other rates for example for LPG and Ethanol based fuels but these 2 rates are the most common. If you drive a heavy vehicle or use fuel in a way that is not on road (for example used to power an excavator or tractor) you may be entitled to claim these tax credit back on your BAS. Make sure you claim what you are entitled to – another reason to use an Accountant that specialises in working with trades and civil construction.
For the original news article have a read below;
https://www.ato.gov.au/Newsroom/smallbusiness/GST-and-excise/Reminder-Fuel-tax-credit-rates-have-increased/?sbnews20190508