You claim fuel tax credits on your BAS in the same way as you claim GST credits. You can register and claim fuel tax credits for eligible fuels (petrol & diesel are both eligible) you use in heavy vehicles if the vehicle meets the following conditions:
- It is used in carrying on a business.
- It has a gross vehicle mass (GVM) greater than 4.5 tonne
The GVM of a vehicle is the GVM accepted by the authority that registered the vehicle. Trailers cannot be included in the GVM of a rigid vehicle. For prime movers, the GVM is the gross combination mass The mass of the vehicle and the trailer. Depending on your circumstances, you may also need to meet an environmental criterion for heavy diesel vehicles if they were manufactured before 1 January 1996. The current rate for diesel and petrol used in eligible vehicles on public roads is 14.5 cents a litre (CPI indexed twice a year), which can add up to some serious dollars. There are also instances where you can claim fuel tax credits for vehicles and machinery used off public roads eg agriculture, construction and civil works etc, and there is a different rate for these uses.
If you are eligible for this rebate but have missed it in the past, there is the ability to back claim your credits for up to the last four years. Lastly keep in mind that Fuel Tax Credit Rebates will be taxed as income in the hands of the business that receives the rebate (GST Free income).
An ATO fuel tax credit calculator is available via this link https://www.ato.gov.au/Calculators-and-tools/Host/?anchor=FTCCalc#FTCCalc/questions however if you require further assistance please do not hesitate to contact us.