Fuel tax credit rates have increased
The ATO have notified us that Fuel tax credit rates have increased for fuel acquired from 1 August 2015, due to a rise in the consumer price index (CPI).
Laws have passed that mean excise duty rates will continue to be indexed in line with CPI in February and August each year. This means fuel tax credit rates will also continue to be indexed twice a year.
What you need to do
Rates change regularly and we have the following information and tools to assist you and your clients claim the correct amount of fuel tax credits:
- to check the rates go to ato.gov.au/fueltaxcreditrates
- use our Fuel tax credit calculator available at ato.gov.au/fueltaxcreditcalculator or on the ATO app. Download or update the app from GoogleplayTM, Windows Phone Store or the Apple App Store.
- for information about fuel tax credits go to ato.gov.au/fuelschemes
For further details please call our team at Leenane Templeton on 02 4926 2300
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