Fuel tax credits
Many businesses are eligible to claim fuel tax credits. Fuel tax credits provide you with a credit for the fuel tax (excise or customs duty) included in the price of fuel you use in:
- business activities
- heavy vehicles.
You must be registered for both GST and fuel tax credits before you can make a claim. You claim fuel tax credits on your business activity statement (BAS). Your records should show that you:
- acquired the fuel
- used the fuel in your business
- applied the correct rate when calculating how much you could claim.
You must also keep records that show your business is carrying on activities that are eligible for fuel tax credits. You must keep these records for five years after you make the claim.
Many businesses can claim fuel tax credits for fuel used in their business. The records you would normally keep for your business fuel expenses will generally support your claims for fuel tax credits. You claim fuel tax credits on your business activity statement (BAS).