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Thread: Fuel Tax Credits

  1. #1
    Member bks07's Avatar
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    Default Fuel Tax Credits

    Hi All,

    I Have recieved an email with a link to the ato and it says that as of july 1 2008 we will be able to claim a tax credit for the fuel we use in all or equipment the rebate is 19.0715 cents per litre of fuel purchased.


    Here is the link

    www.ato.gov.au/fuelschemes

    There are as all things with the government a catch or two.

    1. you must be GST registed
    2. and you must be registered to recieve fuel tax credits

    it also says that you can do all of this online.

    We should probably thank old kevin rudd now

  2. #2
    Senior Member geoff's Avatar
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    Default Re: Fuel Tax Credits

    u beat me to it yes i got that email today effective from the 1st of july so for the ride ons that uses heaps of fuel will be of some benefit.....and i think johnny actually had it in the last budget ..kevin said me too.....

  3. #3
    Senior Member geoff's Avatar
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    Default Re: Fuel Tax Credits

    have to be careful that we dont put the ute pertol down for the rebate...now thats a hard one that

  4. #4
    lifestyle
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    Default Re: Fuel Tax Credits

    Quote Originally Posted by geoff
    u beat me to it yes i got that email today effective from the 1st of july so for the ride ons that uses heaps of fuel will be of some benefit.....and i think johnny actually had it in the last budget ..kevin said me too.....
    Yeah, i'm pretty sure it was in Howards last budget!

  5. #5
    Translawner administrator's Avatar
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    Exclamation Re: Fuel Tax Credits

    Just looking at my most recent BAS statement and they have sent through an Update on the Fuel Tax Credits.



    All other activities, machinery, plant and equipment are eligible from 1 July 2008. Examples of activities are:

    construction
    manufacturing
    wholesale/retail
    property management, and
    landscaping.
    All taxable fuels – for example, diesel and petrol.
    Nil
    19.0715**




    Can claim fuel used in lawn mowers, CHAINSAWS, WHIPPER SNIPPERS etc.



    You can claim around $19.00 for every 100 liters for these, they previously couldn’t claim these



    See here: http://www.ato.gov.au/businesses/con...1/003&st=&cy=1



    all-terrain bikes (off-road)
    asphalt pavers
    augers
    backhoes
    blower vacuums
    bulldozers
    concrete mixers
    chainsaws
    compactors
    compressors
    cranes
    crushers
    dredges
    drills
    excavators
    front-end loaders
    graders
    hoists
    lawn mowers
    motorcycles (off-road)
    outboard motors
    pumps
    rollers
    skid steer loaders
    tractors
    whipper-snippers
    winches
    Last edited by administrator; 03-07-2008 at 12:48 PM.

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  6. #6
    Senior Member geoff's Avatar
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    Default Re: Fuel Tax Credits

    the big thing is you have to be gst registered i believe to claim the rebate

  7. #7
    Translawner administrator's Avatar
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    Default Re: Fuel Tax Credits

    yes that is so true u must be gst reg to get the credits

    Nice to get a reward for being a tax collector

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  8. #8
    Member bks07's Avatar
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    Smile Re: Fuel Tax Credits

    Be careful who you talk to when you ring them to get registered because i rang on Monday and they said that i was not eligible to claim so i hung up and rang back and the next lady said that i could claim so i got her name and said sign me up now.

    I don't care if im a tax collector because now we are getting something back for the hard work collecting and paying the tax the bit i hate is more bloody paperwork.

  9. #9
    Senior Member glassngrass's Avatar
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    Default Re: Fuel Tax Credits

    Remember, vehicle fuel doesn't qualify for this rebate (unless you drive a tipper truck!)

    Likely if you did a lot of work with ride ons this would definitely be worthwhile. But what about the average mow-jo? If, after keeping a log book to show how you worked out your qualified useage, a contractor used on average, say, 15 litres of fuel in his mower/wippersnipper/blower, etc, each week for three months, then completed extra ATO paperwork to claim, he would qualify for a rebate of $37 (GST inclusive).

    Better than a kick in the pants?? You decide. Consider - what is your time worth to you. Likely you would spend more than an hour to claim your $37. Do you have a spare hour during your six busiest months?

    19c per litre huh! Woopdeedoo! Worth claiming - just! I'll try it for a couple of quarters, but I suspect that I will quickly tire of this extra hoop to jump thru and will cancell my rebate registration before the end of next tax year.
    David
    Mr Sparkle Car Spa

  10. #10
    Senior Member glassngrass's Avatar
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    Smile Re: Fuel Tax Credits

    Righto everybody.

    The first taxt quarter is nearly over and you have just a week left to register so you can claim your fuel tax rebate for this quarter.

    You need to be registered for GST in order to qualify.
    David
    Mr Sparkle Car Spa

  11. #11
    Senior Member bb1's Avatar
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    Default Re: Fuel Tax Credits

    Quote Originally Posted by glassngrass
    Better than a kick in the pants?? You decide. Consider - what is your time worth to you. Likely you would spend more than an hour to claim your $37. Do you have a spare hour during your six busiest months?

    .

    I Just keep a simple spreadsheet, when I enter an invoice in MYOB I add it to the spreadsheet. takes a couple of seconds, for the first 2 months of this quarter I am up to $35, so guessing it will be $50 or so dollars, my theory is better in my pocket than theirs

  12. #12

    Default Re: Fuel Tax Credits

    [thinks in his head] "now here is a another good example of good value from this forum"

    I thought i was pretty good at doing tax, but never thought of this one !, thanks for sharing the great info...

    .

  13. #13
    Translawner administrator's Avatar
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    Default Re: Fuel Tax Credits

    Honda Cares

    The garden care industry is set to benefit greatly from the expansion of the Federal Government's fuel tax credits scheme introduced 1 July, 2008, according to Honda Australia Power Equipment Manager, Ray Briffa.
    Whilst previously only available to specific industries and heavy vehicle operators, the expansion enables "off-road" fuel concessions, providing benefits to professional users of landscape and gardening equipment, including lawnmowers, brushcutters, blowers and the like.

    According to Mr Briffa, the reforms to the scheme are welcome news for the garden care industry, particularly in light of the rising fuel prices, water restrictions and dry conditions experienced in recent years.
    "The past couple of years have been tough for the garden care industry, with the drought drying out lawns across many areas of the country, coinciding with water restrictions; this has led to a decline in demand for regular garden maintenance," he said.

    "For these service providers to now be able to recoup some running costs through their inclusion in the fuel tax scheme is a very encouraging step.

    Mr Briffa acknowledged the rising fuel cost pain as a widely felt sentiment in the industry, but is further encouraged by plans for the rebate to double in four years.

    "In addition to these initial measures, Honda is glad to see that there is policy in place for the fuel tax scheme to offer an even greater rebate (a 50 per cent increase) by 2012," he said.

    According to Mr Briffa, strong sales of Honda's advanced four-stroke product range this year marks a trend in which operators of traditional two-stroke equipment are making the transition to more fuel efficient product.

    "Equipment operating costs are an extremely important consideration for all businesses," he said. "For contractors using equipment for eight hours a day over the course of five or six days, the fuel savings are considerable.

    Further benefits of four-stroke equipment include reduced exhaust emissions, quieter operation, minimal vibration and the ability to use regular unleaded fuel rather than an oil and fuel mix - ultimately these factors lead to a more efficient and productive work day.

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  14. #14
    Senior Member bb1's Avatar
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    Default Re: Fuel Tax Credits

    Just did my BAS, $52.00 fuel credit for about 5 minutes extra work, to me thats a good rate of return.

  15. #15
    Translawner administrator's Avatar
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    Default Re: Fuel Tax Credits

    good to hear bb1 50 bucks is a good earner for 5 mins work

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