Six-monthly indexation alert for Fuel Tax Credits
Fuel tax credit rates increased for fuels acquired from 2 February 2015 due to an increase in CPI. Rates are indexed twice a year – generally on 1 February and 1 August. Check the rates at fuel tax credit rates and eligible fuels before you complete your BAS. You may need to use more than one rate when calculating your fuel tax credits for a BAS period.
The ATO fuel tax credit calculator is the easiest way to avoid mistakes when working out the fuel tax credit amount to claim on your BAS because it will automatically include the correct rates from 2 February.