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Important fuel tax credit rate changes.
Fuel tax credits (“FTC”) regularly change, so it’s important to know the correct rate to apply to your business activity statement (“BAS”). Multiple rates may apply to your September 2022 Quarter BAS.
Fuel tax credit rates have changed.
As announced in the 2022-23 Federal Budget, fuel excise and excise equivalent customs duty (excise) rates for petrol, diesel and all other fuel and petroleum-based products, except aviation fuels, will be halved temporarily for 6 months, from 30 March to 28 September 2022.