Fuel Tax Credits

Most business can claim fuel tax credits - Did you know that from 1 July 2008 most businesses can claim fuel tax credits? If you haven’t checked your eligibility for a while, you may want to check again.

To date, you’ve been able to claim for fuel used in heavy vehicles travelling on a public road, if they had a gross vehicle mass (GVM) greater than 4.5 tonne. You’ve also been able to claim for activities such as agriculture, forestry, fishing, mining, and marine and rail transport. Now you can also claim fuel tax credits for the diesel and petrol you use in a whole range of activities that weren’t eligible before, including machinery, plant and equipment used in activities such as construction, manufacturing, wholesale, retail, property management and landscaping. Make sure you don’t miss out!

More activities eligible for fuel tax credits - After 1 July 2008, there are even more benefits to being registered. You can claim fuel tax credits for much of the fuel you buy and use in your business from that date. The only exceptions are aviation fuels, alternative fuels and fuels used in light vehicles (of 4.5 tonne GVM or less) travelling on a public road.This means that for new activities under the expanded eligibility you can claim around $19 in fuel tax credits for every 100 litres of fuel you use in your business, even if you use it in machinery, plant or equipment such as:

all-terrain bikes (off-road); asphalt pavers; augers; backhoes;blower vacuums; bulldozers; chainsaws; compactors; compressors; concrete mixers; cranes; crushers; dredge; drills; excavators; front-end loaders; graders; hoists; lawn mowers; motorcycles (off-road); outboard motors; pumps; rollers; skid steer loaders; tractors; whipper-snippers; winche.

For more information vitit the ATO web site - Fule Tax Credits.

(source ATO)

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