Fuel tax credit rates change
February fuel tax credit rates change
Fuel tax credit rates change regularly. They also vary depending on when you acquire the fuel, what fuel you use and the activity you use it for.
Fuel tax credit rates are indexed twice a year, in February and August, in line with the consumer price index (CPI). The CPI is released towards the end of January and July, five days before the rates are changed. Fuel tax credit rates will be updated as soon as they become available.
Rates may also change for fuel used in a heavy vehicle for travelling on public roads. This is due to changes to the road user charge which is reviewed annually.
Recent changes
As of Monday 1 February 2016 fuel tax credit rates change due to indexation.
Fuel tax credit rates are indexed in August and February in line with the consumer price index.
You may need to use more than one rate in a BAS period.
Use the Fuel tax credit calculator to help you get your claim right.
For details of the fuel tax credit changes go to ato.gov.au/fueltaxcreditrates
BAS time again
It’s that time of the month again..
Small Businesses remember to lodge your BAS by 28th October.
Did you know if you lodge your BAS through a Tax Agent you get an extended due date until 25th November?
If you would like some assistance lodging your BAS this quarter give our office a call (07) 3357 5553.