Fuel Tax Credits

Accounting / Fuel Tax Credits

Introduction

Plus7 Accounting offers a tax service specialising in obtaining diesel and other fuel rebates for all eligible fuel users

Fuel tax credits provide businesses with a credit for the fuel tax (excise or customs duty) that’s included in the price of fuel used in:

  • machinery
  • plant
  • equipment
  • heavy vehicles
  • light vehicles travelling off public roads or on private roads

We will review your accounts and obtain missed fuel rebate benefits and ensure your entitlements are maximised and corrected and then help you get on track and stay on track, reviewing on an ongoing basis

Fuel tax credits rates change regularly so it’s important to check the rates each time you do your business activity statement (BAS). Some fuels and activities are not eligible including fuel you use in light vehicles of 4.5 tonnes gross vehicle mass (GVM) or less, travelling on public roads.
The amount depends on when you acquire the fuel, what fuel you use and the activity you use it in. To that we have developed some useful tools where we can work out which of your business activities are eligible and what rates apply, and a process to help you work out your current claim and any back claims.

  • machinery
  • plant
  • equipment
  • heavy vehicles
  • light vehicles travelling off public roads or on private roads

Our Services

There are time limits for claiming fuel tax credits – generally, you must claim within four years.

The four years starts the day after you were required to lodge the activity statement for the tax period in which the fuel was acquired, so don’t hesitate and email us at fueltax@plus7acc.com.au to review your rebates.

We conduct reviews and identify potential refunds for all business consumers of fuel, particularly those operating in the following industries:

  • Transport
  • Civil Contractors
  • Local Government
  • Mining
  • Agriculture

We find that whilst most businesses are claiming the Fuel Tax rebates, its common that they are not maximising their entitlements.

We can also prepare future claims and assist by ensuring that entitlements are optimised, that all eligible activities are included and that the claim is correct. In this respect, we can make sure you are upto date with the significant on-going changes in entitlements which are progressively being phased in. We can ensure that entitlements are not continuing to be missed. Fuel tax credit rates change regularly. They are indexed twice a year – in February and August – based on the upward movement of the consumer price index (CPI).

Fuel tax credit rates may also change in July for fuel used in a heavy vehicle for travelling on public roads. This is due to changes to the road user charge, which is reviewed annually. In July 2021, rates also changed for biodiesel (B100) due to an annual increase in excise duty rates.

  • Transport
  • Civil Contractors
  • Local Government
  • Mining
  • Agriculture

Our Fees

Our fees are contingency based and are calculated as a percentage of the retrospective benefit gained by the client, this being 25% of the claim difference we find after completing the review.

In the unlikely event that you receive no benefit, we receive no fee.

Get in touch

No benefit, no fee.

Contact us

Call or email us to discuss your financial opportunities today.

‭08 8130 5500 admin@plus7fm.com.au

Find us

Suite 1, 1 Alexandra Avenue, Rose Park
Adelaide SA 5067

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9am to 5pm, Monday to Friday

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