Fuel schemes provide credits and grants to reduce the costs of some fuels or to provide a benefit to encourage the recycling of waste oils.
From 1 July 2014, some fuel tax credit rates are changing.
For fuel you acquire for your business, you will claim:
- Different rates because of an increase in carbon charge amounts
- More for transport gaseous fuels.
There is no change to the rate for fuels used in heavy vehicles for travelling on public roads.
Go to the rates table to see how these rates are changing from 1 July 2014. Now that fuel tax credit rates are changing it is important to ensure you keep good records to support your claim.
Note: The Australian Government is proposing to remove the carbon charge for fuels acquired from 1 July 2014. They are also proposing to index excise duty rates for most fuels every six months from 1 August 2014.
If one or both of these changes become law, fuel tax credit rates will change. Check back here regularly for the latest information.