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WMC Accounting, Geelong, Colac, Bellarine Peninsula

Fuel tax credit calculation worksheet

Are you claiming Fuel Tax Credits in your Business?

Fuel tax credits – what you can claim

Refer to this table to find out how much you can claim. The rate varies according to the fuel you have used and the activity you used it in.

Activity/business use

Eligible fuel

Rate (cents
per litre)

In a vehicle greater than 4.5 tonne GVM travelling on a public road (diesel vehicles acquired before 1 July 2006 can equal 4.5 tonne GVM).

All taxable fuels – for example, diesel and petrol.

18.51*

Emergency vehicles greater than 4.5 tonne GVM travelling on a public road (diesel vehicles acquired before 1 July 2006 can equal 4.5 tonne GVM).

All taxable fuels – for example, diesel and petrol.

18.51*

Specified activities eligible since 1 July 2006 in:

  • agriculture
  • fishing
  • forestry
  • mining
  • marine transport
  • rail transport
  • nursing and medical.

All taxable fuels – for example, diesel, petrol and fuel oil.

38.143

Burner applications.

All taxable fuels – for example, diesel, petrol, heating oil, kerosene and fuel oil.

38.143

Non-fuel uses such as:

  • fuel used directly as a mould release, and
  • fuel used as an ingredient in the manufacture of products.

All taxable fuels – for example, kerosene, fuel oil, toluene, mineral turpentine and white spirit.

38.143

Packaging of fuels in containers of 20 litres or less for non-internal combustion engine use.

Mineral turpentine, white spirit, kerosene and certain other fuels.

38.143

Supply of fuel for domestic heating.

Heating oil and kerosene.

38.143

Electricity generation by a commercial generation plant, a stationary generator or a portable generator.

All taxable fuels – for example, diesel, petrol, heating oil, kerosene and fuel oil.

38.143

Emergency vessels.

All taxable fuels for example diesel, petrol and fuel oil.

38.143

All other activities, machinery, plant and equipment are eligible from 1 July 2008. Examples of activities are:

  • construction
  • manufacturing
  • wholesale/retail
  • property management
  • landscaping.

All taxable fuels – for example, diesel and petrol.

19.0715**

If you have any queries in relation to the above information, please feel free to contact on of our friendly staff members here at WMC.

* This rate accounts for the road user charge, which is subject to change.

**The rate of 19.0715 cents per litre is 50% of the full rate of 38.143 cents per litre. The full rate will apply to all these activities from 1 July 2012.

 

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