Australia Tax Agency Clarifies Changes in Fuel Tax Credits

The Australian Taxation Office July 4 clarified changes in fuel tax credits. The clarification includes that: 1) taxpayers claiming the credits on their business activity statement must apply the lower credit rates for fuel acquired from March 30; 2) using the fuel tax credit calculator helps ensure application of the correct rate; 3) the credit amount is reduced due to the six-month reduction in fuel excise duty from March 30 to Sept. 28; and 4) businesses using fuel during the rate reduction period in heavy vehicles on public roads can’t claim the credit. [Australia, Australian Taxation Office, 07/04/22]

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