• # Fuel tax credits calculation worksheet

If you claim under \$10,000 in fuel tax credits in a year there are now simpler ways to record and calculate your claim.

## How to work out your fuel tax credits

There are three steps to calculate your fuel tax credits using our worksheet

### Step 1: Work out your eligible quantities

Work out how much fuel (liquid or gaseous) you acquired for each business activity.

### Step 2: Check which rate applies for the fuel

Use the rate that applied when you acquired the fuel, including fuel used in heavy vehicles.

### Step 3: Work out the amount of your fuel tax credits

Multiply the eligible quantity of fuel by the relevant fuel tax credit rate (step 1 x step 2). You must divide the result by 100 to convert it into dollars. Claim the whole dollar amount on your BAS. Do not include cents.

### Example worksheet

Example of a completed fuel tax credits calculation worksheet

BAS period

01/07/2016

to

30/09/2016

Eligible fuel type

Fuel acquired for eligible business use

(litres or kilograms)

(Step 1)

Date fuel acquired

Fuel tax credit rate when you acquired the fuel

(cents per litre / kilogram)

Use the rates

(Step 2)

Fuel tax credit amount (\$)

Amount must be converted to dollars.

Step 3 = (Step 1 × Step 2) ÷ 100

Diesel

9,250

Construction equipment on site

18/07/2016

39.5

\$3,653.75

Diesel

8,570

Construction equipment on site

18/08/2016

39.6

\$3,393.72

Once you have calculated the amount for each rate, add all the figures together to get a total for the tax period, then claim the whole dollar amount by writing it at label 7D on your BAS.

Total

\$7047.47