FUEL TAX CREDITS

At Hills Accountants in Hobart, we’re always looking for ways to help our clients save money, and fuel tax credits are a great example of an often-overlooked opportunity. These credits allow you to claim back tax paid on fuel used in your business, and this could be for things like running machinery, equipment, or heavy off-road vehicles.

Who can claim these credits?

Fuel tax credits are available for businesses in industries like construction, agriculture, or transport that use fuel in machinery or heavy vehicles. Whether you’re operating farm equipment, running trucks off public roads, or powering commercial boats, fuel tax credits can offer substantial savings.

How do you claim them?

It’s as simple as filling in label 7D on your Business Activity Statement (BAS). The amount you claim depends on how and where the fuel was used. You can even use the ATO’s fuel tax credit calculator to make things easier!

Pro tips from Hills Accounting

• Keep clear records of all fuel purchases and usage.
• Stay updated on the changing fuel tax credit rates.
• Use the ATO calculator for accurate claims.

Claiming fuel tax credits is a great way to reduce your business costs, and at Hills Accountants in Hobart, we’re here to help you make the most of every opportunity. If you think you're eligible or need more guidance, feel free to reach out!

For more details, check the ATO’s fuel tax credits information here.

For more information, email us today at admin@hillsaccounting.com.au or call us on 03 62737800.
You can also check out all our blog posts here.

Remember, this article is general in nature and doesn’t take into account your specific objectives, financial situation, or needs.

For advice tailored to your circumstances, have a chat with us at Hills Accounting Hobart.