Fuel Tax Credit Changes

HomeInsights

Fuel Tax Credit Changes

The Australian Government temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel and all other petroleum-based products (except aviation fuels) for 6 months from 30 March 2022 until 28 September 2022. This has caused a reduction in fuel tax credit rates.


During this 6 months period, businesses using fuel in heavy vehicles for travelling on public roads won't be able to claim fuel tax credits for fuel used for this purpose. This is because the road user charge exceeds the excise duty payable, and this reduces the fuel tax credit rate to nil.


You can find the ATO’s updated fuel tax credit rates that apply for the period from 30 March 2022 to 30 June 2022 here. The ATO’s fuel tax credit calculator has been updated to apply the current rates.



QUESTIONS? GET IN TOUCH QUESTIONS? GET IN TOUCH




3 May

Fashion For A Cause: The Original Pre-Loved Fashion Market

LIVE EVENT
3rd May 2024


Welcome to Mornington Peninsula's original pop-up pre-loved market with a difference. Fashion For A Cause is a not-for-profit fundraiser event. Grab a fashion bargain or unique piece, wine with friends, bid on silent auction items, all to raise funds for Clothes 4U.Inc. All proceeds from the event including stall sales, ticket sales and clothing purchases on the night will be double-dollar-matched and donated to Clothes 4U Inc.


READ MORE READ MORE
Yesterday

What’s the downside to cheap dealer motorbike finance?

Low-interest rate loans used by dealerships are a good way to get buyers in the door – but if you’re not careful, you may end up overpaying in the long term.


READ MORE READ MORE
Yesterday

Understanding the impact interest rates on car loans

Car loans can feature either fixed or variable interest rates, each with its own set of advantages and disadvantages.


READ MORE READ MORE
Yesterday

Creative ways to own an investment property

With the surge in property prices, the barrier to entry has never been higher. However, there are many different ways to get into the market.


READ MORE READ MORE
27 Mar

The House Vs. Unit Divide Continues To Grow

The difference between the price of units and houses continues to grow, with homes now costing $300,000 more.


READ MORE READ MORE
27 Mar

House prices reach the $1 million mark

The national median house price officially reached $1,005,242 marking the highest price on record.


READ MORE READ MORE
27 Mar

Confidence returning to vendors as listings jump

Vendors are looking to capitalise on rising prices with a surge in new listings hitting the market across Sydney and Melbourne.


READ MORE READ MORE
27 Mar

My Reflections on Our 2-Day Corporate Retreat

Running a business is not just about crunching numbers and meeting targets; it's also about fostering a strong team dynamic and creating a shared vision. That's why I recently organized a 2-day corporate retreat for the entire SMART team at Phillip Island, and it turned out to be an unforgettable experience.


READ MORE READ MORE
20 Mar

Getting back what you put in: Loans to get a business started

A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications.


READ MORE READ MORE


Related News

27 Mar

My Reflections on Our 2-Day Corporate Retreat

Running a business is not just about crunching numbers and meeting targets; it's also about fostering a strong team dynamic and creating a shared vision. That's why I recently organized a 2-day corporate retreat for the entire SMART team at Phillip Island, and it turned out to be an unforgettable experience.


READ MORE READ MORE
20 Mar

Getting back what you put in: Loans to get a business started

A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications.


READ MORE READ MORE
20 Mar

Revised stage 3 tax cuts confirmed for 1 July

The revised stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024.


READ MORE READ MORE