Fuel tax credit rates have increased

Fuel tax credit rates have increased for eligible fuel acquired from 2 February 2015, due to a rise in the consumer price index (CPI). Rates are indexed twice a year in line with the CPI – generally on 1 February and 1 August.

What you need to do

If the team at Business Wise are responsible for managing your fuel tax credits, then you do not need to do anything – we are already applying the new rates to eligible fuel purchases.

If you self-manage your fuel tax credits, then you should take advantage of the following information and tools to assist you in claiming the correct amount of fuel tax credits:

• to check the rates go to ato.gov.au/fueltaxcreditrates
• use the ATO’s Fuel tax credit calculator available at ato.gov.au/fueltaxcreditcalculator
• for more information about fuel tax credits visit ato.gov.au/fuelschemes

If you have any questions please don’t hesitate to contact our office, or call the ATO on 13 72 86 Fast Key Code 114 between 8.00am and 6.00pm, Monday to Friday.