Fuel Tax Credits: Who Qualifies and What You Get

This scheme allows businesses to claim back the fuel tax that is already included in the price of the diesel they purchase for work. It is designed to provide financial support and tax concessions that help keep small-scale operations, such as commercial fishing, viable.

👤Who it's for

This scheme is available to businesses that use fuel for heavy vehicles or for machinery used in commercial activities. This includes specific industries like fishing, where fuel is used to power machinery like fishing vessels.

🎁What you get

You can receive a credit for the fuel tax that is included in the price of the diesel you buy. This credit is intended to offset the costs of running your business activities by returning a portion of the tax paid on your fuel.

💰What it costs you

While there is no direct fee to join the scheme, it does require a commitment of time and record-keeping. You must maintain detailed fuel purchase logs to track your usage accurately. You are also required to include this information when you file your regular business activity statements.

⚠️The catch to know

It is important to distinguish between business and personal use. You cannot claim fuel used in private vehicles; the credit is strictly for fuel used in machinery or heavy vehicles for business purposes, such as a vessel's engine.

📝How to apply

• Keep accurate, detailed logs of all your fuel purchases and where that fuel was used.
• Ensure you are tracking fuel usage specifically for business-related machinery or heavy vehicles.
• Report your fuel information through your regular business activity statements.
• Visit the official portal for more details: https://www.ato.gov.au/businesses-and-organisations/income-gains-and-losses/fuel-tax-credits