In line with Fuel Excise Indexation, the fuel tax credit rates have increased since the start of February.
If your business claims less than $10,000 each year using diesel in heavy vehicles, there is now an easier way to calculate your fuel tax credits.
To use the method, all you need is the distance you have travelled and the amount of eligible diesel you have acquired for use in the heavy vehicle for the tax period.
The method makes it easier to work out the on and off public road travel that you have done.
To get more fuel tax credit points, ensure you calculate your off public road use correctly, as the rate for travel off public roads is higher.
Travel off public roads includes when you are idling, loading or unloading your heavy vehicle in warehouses, depots or car parks.
In preparation of tax time or if you require any assistance in claiming fuel tax credits, please do not hesitate to get in touch with our team by phoning 4638 5300 or contact us HERE.