Fuel tax credit rates change regularly, so it's important to check and apply the correct rate.
They are indexed twice a year – in February and August – based on the upward movement of the consumer price index (CPI). The CPI indexation factor for rates from 1 August 2023 is 1.022.
Fuel tax credit rates may also change for fuel used in a heavy vehicle for travelling on a public road. This is due to changes in the road user charge.
The heavy vehicle road user charge will increase by 6 percent each year over 3 years from 28.8 cents per litre for petrol and diesel in 2023–24, to 30.5 cents per litre in 2024–25 and to 32.4 cents per litre in 2025–26.
The road user charge rate for gaseous fuels per kilogram rate will increase from 38.5 cents per kilogram in 2023–24, to 40.8 cents per kilogram in 2024–25, to 43.2 cents per kilogram in 2025–26. Currently, the road user charge reduces fuel tax credits for gaseous fuels to nil.
In July 2023, rates changed for biodiesel (B100) due to an annual increase in excise duty rates.
Fuel excise duty was temporarily reduced from 30 March 2022 to 28 September 2022. This reduction applied to excise and excise equivalent customs duty rates for petrol, diesel and all other fuel and petroleum-based products (except aviation fuels). This affected the fuel tax credit rates during that period.
For current fuel tax rates, see From 1 July 2023 to 30 June 2024 (includes rates from 1 July 2023 and 1 August 2023).
- From 1 July 2022 to 30 June 2023 (includes rates from 1 July 2022, 1 August 2022, 29 September 2022 and 1 February 2023).
- From 1 July 2021 to 30 June 2022 (includes rates from 2 August 2021, 1 February 2022 and 30 March 2022).
- From 1 July 2020 to 30 June 2021 (includes rates from 3 August 2020 and 1 February 2021).
- From 1 July 2019 to 30 June 2020 (includes rates from 5 August 2019 and 3 February 2020).
The Australian Government data.gov.au website lists Historical fuel tax credit ratesExternal Link.Use the rates listed for each financial year to work out your fuel tax credit rates for business.