NatRoad has been working with the Australian Taxation Office (ATO) to find a simpler way for members to calculate their fuel tax rebate. You can now use the basic method for heavy vehicles to calculate your fuel tax credits if you claim less than $10,000 in a year.
To properly claim the fuel tax rebate to need to divide up, or apportion, the fuel used for travel on a public road and that used for other purposes.
The Practical Compliance Guideline (PCG) provides a simplified apportionment method to assist members in meeting their fuel tax credit obligations. The new method applies to diesel fuel purchased on and from 1 October 2020.
The “safe harbour” under the PCG applies to small business in particular. This is because the PCG can be applied where there is a reasonable expectation that the member’s total fuel tax credit entitlement for the current 12-month period will be $10,000 or less.
Feel free to discuss how you could best use the PCG by calling a NatRoad adviser on 1800 272 144 or email firstname.lastname@example.org