Fuel tax credit up from August 1


In line with indexation, fuel tax credit increases by 0.3 cents per litre

Fuel tax credit up from August 1
The fuel tax credit has increased in line with the reintroduction of fuel tax indexation

 

The fuel tax credit rate for eligible heavy vehicles increased from the beginning of the new month.

In line with the return to fuel tax indexation, the amount that heavy vehicle owners can claim back for driving costs increased to 13.06 cents per litre from August 1.

The fuel tax credit rate for powering auxiliary equipment has also risen, from 38.9 cents per litre to 39.2 cents per litre.

The credit applies according to the date of purchase, so operators will need to make different claims for fuel bought either side of August.

The Australian Taxation Office has advised operators to use its online fuel tax credit calculator or app, in order to get the right figures and rates on their business activity statements.

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