Fuel tax credit rates increased on 4 February in line with fuel excise indexation. Find out more about what it means for your business.

Fuel tax credit rates change regularly. They are indexed twice a year (in February and August), in line with the consumer price index (CPI).

Rates may also change in July for fuel used in a heavy vehicle for travelling on public roads. This is due to changes to the road user charge, which is reviewed annually. In July, rates also change due to an annual increase in excise duty rates on biofuels.

Rates for fuel acquired from 4 February 2019 to 30 June 2019

Eligible fuel type Unit Used in heavy vehicles for travelling on public roads All other business uses (including to power auxiliary equipment of a heavy vehicle)
Liquid fuels, for example diesel or petrol

cents per litre

15.8

41.6

Blended fuels: B5, B20, E10

cents per litre

15.8

41.6

Liquefied petroleum gas (LPG) (duty paid)

cents per litre

0.0

13.6

Liquefied natural gas (LNG) or compressed natural gas (CNG) (duty paid)

cents per kilogram

0.0

28.5

Blended fuel: E85

cents per litre

0.0

13.210

B100

cents per litre

0.0

4.2

If you claim less than $10,000 in fuel tax credits per year, next time you calculate your claim just use the rate that applies at the end of that BAS period.

You can also use the ATO’s simplified record keeping methods, making it easier to keep accurate records to calculate and support your claims. Keeping on top of your record keeping will give you an accurate picture of how your business is going.

Remember, registered tax agents and BAS agents such as those here at Business Wise, can help you with your tax.

Business Wise
The team at Business Wise don't just do bookkeeping and accounting - we believe that successful businesses are those that are informed, proactive and open to change, and we want to help you on your journey to success.