Fuel tax credit rate rises slightly for trucking


The fuel tax credit has increased by 0.3 cents per litre.

 

The fuel tax credit rate for eligible heavy vehicles has increased slightly to just over 13 cents per litre.

The 0.3 cents per litre rise is due to the re-introduction of fuel tax indexation and took effect on August 1.  

It means the amount trucking operators can claim back for driving costs increased to 13.06 cents per litre.

The fuel tax credit rate for powering auxiliary equipment has also risen, from 38.9 cents per litre to 39.2 cents per litre.

The credit applies according to the date of purchase. it means businesses need to make different claims for fuel bought either side of August.

The Australian Taxation Office says businesses can use its online fuel tax credit calculator to get the right figures and rates on their business activity statements.

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