Use the correct fuel tax credit rates
Rates changed on 1 July and 1 August — use the ATO’s calculator to apply the correct rates when making a claim on your BAS.
The Australian Taxation Office (ATO) has made changes to the Fuel Tax Credit rates, impacting claiming credits for eligible fuel use.
To benefit from Fuel Tax Credits, it is vital to understand the eligibility criteria and the proper procedures for making claims. The ATO provides comprehensive guidance on their website to assist you in navigating the claiming process effectively.
We understand that keeping up with tax-related changes can be challenging, but we believe that staying informed is key to maintaining a successful and compliant business. By familiarising yourself with the new Fuel Tax Credit rates and ensuring accurate claims, you can make the most of the available benefits and avoid potential issues with the ATO.
For more information and detailed guidance, we encourage you to consult with OBT’s friendly tax team in Gatton or Esk on 07 5462 2277.