Important Fuel Tax Credit Rate changes.

Fuel tax credit rates increased on 1 February 2023, so don’t forget to use the new rates when you calculate your claims on your next BAS.

For the March quarter BAS you will need to split up your fuel usage for before and after February 1 due to the different rates.  Alternatively, if you claim less than $10,000 fuel tax credits per year, then you can simply use the rate that is applicable at the end of the quarter.  That is, for the March quarter BAS you can use the rates below that are relevant as at 31 March 2023.

Fuel tax credit rates do change regularly.  They are indexed twice a year, in February and August, in line with the Consumer Price Index.

Refer to the tables below for the different rates over the course of the January-March 2023 quarter.  If you need to claim FTC prior to 1 January 2023, please get in touch and we can provide you with the older rates.

Rates for fuel acquired from 1 February 2023:

Rates for fuel acquired from 29 September 2022 to 31 January 2023:

If you require any further information regarding fuel tax credits, including eligible fuels, definition of heavy vehicles etc, please don’t hesitate to contact this office.