The Australian Tax office (ATO) has announced that the next indexation of the fuel tax credit is expected to be live on 1 February 2021. So don’t forget to use the new rates when you calculate your claim on your next business activity statement (BAS). The new rates are available on the ATO website now.
Members can use the simplified methods to make it easier to calculate claims and keep complete and accurate records.
Remember, registered tax agents and BAS agents can help you with your tax.
- Fuel tax credit calculator
- ATO app (includes the calculator – download or update it from Google Play™, Windows Phone Store or the App Store)
We encourage members to save the fuel tax page for easy access as soon as the new rates are available.