Don’t sit there struggling to work out your business’ tax fuel credits, go online and use the Australian Taxation Office new calculator.
Click here to access the ATO Fuel Tax Credit Calculator
Businesses that use off-road fuel tax credits for public works projects are able to claim 22 per cent more cents per litre, following the repeal of the Carbon Tax.
Off-road fuel tax credits, which can be claimed by businesses for fuel used on projects such as road maintenance, have increased from 31.285 to 38.143 cents per litre since the Carbon Tax repeal legislation received Royal Assent on 17 July 2014.
The repeal documents were backdated to come into effect on 1 July 2014.
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