What is Fuel Tax Credits?
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.
Who does it apply to?
It applies to everyone, but your business needs to be eligible to make a claim. This means you must be registered for Goods & Services Tax (GST) and fuel tax credits before you can make a claim.
How do you apply?
You can claim fuel tax credits on your business activity statement (BAS). But your business needs to be eligible to make a claim. This means you must be registered for Goods & Services Tax (GST) and fuel tax credits before you can make a claim.
What is needed to claim it?
Before you can make a claim you must have an eligible business, which means you must be registered for both goods and services tax (GST) and fuel tax credits.
You will need to keep a record of the litres of fuel used on a monthly basis.