You claim your fuel tax credit by completing the following labels:
- 7D – Fuel tax credit
- 7C – Fuel tax credit overclaim. Only complete this label if you need to decrease your entitlement to a fuel tax credit you previously claimed.
Your net fuel amount is label 7C (fuel tax credit overclaim) – label 7D (fuel tax credit).
7D – Fuel tax credit
Include all the fuel tax credits you're entitled to for the tax period. The amount of fuel tax credits you can claim depends on your business activities. You can work this out using our fuel tax calculator.
You also need to include in the amount at label 7D any adjustments or corrections that increase your entitlements to fuel tax credits.
Generally, you can claim fuel tax credits at the time you acquire, manufacture or import taxable fuel into Australia or when you use the fuel you manufactured.
If you account for GST on a:
- cash basis, claim your fuel tax credits in the same business activity statement period you pay for your fuel
- non-cash basis, claim your fuel tax credits in the business activity statement period you receive your invoice for your fuel.
Adjustments that increase your entitlement
At label 7D include adjustments to fuel tax credits that increase your entitlement. You do this when you become aware of the change in use.
An increase in entitlement may arise when you have claimed fuel tax credits but you didn't use the taxable fuel as you intended and the actual use attracts a higher credit rate.
When calculating the dollar amount of your adjustment, apply the fuel tax credit rate that applied at the time you made your original claim.
If you have nothing to report at label 7D, enter '0'.
You can also use the Fuel tax calculation worksheet.
7C – Fuel tax credit overclaim – decreasing your entitlement
At label 7C you need to make any adjustments to fuel tax credits that will decrease your entitlement.
This may happen when you become aware of a change in circumstances. For example, you:
- have claimed fuel tax credits for fuel that has subsequently been sold, lost or disposed of
- don't use the fuel as you originally intended and the actual use attracts a lower rate.
If you have nothing to report at label 7C, enter ‘0’.
You can calculate your credits using either the: