Change to Fuel Tax Credits Rates from - 1 Jan 2009

Fuel Tax Credits rates have reduced from 1 January 2009.

For a vehicle greater than 4.5 tonne GVM travelling on a public road (diesel vehicles acquired before 1 July 2006 can equal 4.5 tonne GVM), the rate for taxable fuel has reduced from 18.51 to 17.143.

Taxable fuels include petrol and diesel.

FREE fact sheet ==> Changes to Fuel Tax Credits

David Maynard

20% Reduction of PAYG Instalments December BAS

(Source ATO)

To help small businesses weather the global financial crisis, the Australian Government recently announced that it would reduce by 20% the quarterly pay as you go (PAYG) instalment due for the December 2008 quarter. For some small businesses this instalment will be due 21 January 2009 while for the balance of small businesses this instalment is due on 28 February 2009. (Note that as the date falls on a long weekend in some states, the lodgment and payment deadline has been extended to 3 March 2009 Australia wide).


How does it work?

• The 20% reduction applies to the instalment amount shown on the business activity statement (BAS) dispatched for the December 2008 quarter.
• An eligible small businesses should pay only 80% of the PAYG instalment amount (shown at label T7) and 100% of the other liabilities (such as PAYG withholding, GST, fuel tax or FBT).

The 20% reduction applies only to PAYG instalment. It does not apply to other tax liabilities – such as PAYG withholding, goods and services tax (GST), fuel tax or fringe benefits tax (FBT) – payable at the same time.

David Maynard