Fuel tax credit rates have increased
Fuel tax credit rates increased on 5 August 2019 in line with fuel excise indexation.
It’s important to keep good records
Always keep records to support your fuel tax credit claims. If you claim less than $10,000 in fuel tax credits per year, you can use simplified record keeping.
The following records will be sufficient to support your claims providing you can show the fuel was used in your business:
- contractor statements
- financial institution statements
- point-of-sale dockets
- fuel supplier invoices
Good record keeping is important for the health of your business as it gives you an accurate picture of how your business is going.