Fuel tax credit rates increased on 1 August 2018 in line with fuel excise indexation.
If you claim fuel tax credits for fuel used in your business, you need to ensure that the new rates are used to calculate your claim on your next business activity statement (BAS).
It is important to keep accurate records of your business transactions as this can make it easier to claim correctly.
The ATO Fuel Tax Credit Rates web page contains all the current rates for eligible fuel types. Fuel tax credit rates change regularly so it is valuable to know where to find up to date information.
Please contact KK Partners Group if you require any assistance regarding these changes.