Simplified Fuel Tax Credits

In April, the Australian Taxation Office announced measures to simplify fuel tax credits. Some of those changes only apply to entities claiming less than $10,000.00 in fuel tax credits, which equates to eligible fuel purchases of approximately 25,000 litres.

Another change to simplify calculating fuel tax credits relates to heavy vehicles used mainly off road. The ATO has created a list of heavy vehicles they consider to be used fully off public roads e.g. bulldozers or headers. From the March BAS period onwards it is no longer necessary to apportion on and off road use for those eligible heavy vehicles when calculating fuel tax credit claims even, if they are sometimes driven on a public road.

More information on Simplified fuel tax credits can be found using the link below.

https://www.ato.gov.au/business/fuel-schemes/fuel-tax-credits---business/working-out-your-fuel-tax-credits/simplified-fuel-tax-credits/

Keeping up to date with ATO changes which may affect your business can be done by subscribing to RSS news feeds or Email subscriptions on the ATO website.

https://www.ato.gov.au/General/Gen/Subscriptions/

It is also recommended to contact your Accountant or Financial Advisor for assistance on your eligibility.

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