Latest Fuel Tax Credit Rates for Businesses: July 2023 – June 2024 Update

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As a business owner or manager, keeping up with the latest fuel tax credit rates is essential for accurate financial planning and compliance. The Australian Taxation Office (ATO) has released the updated fuel tax credit rates effective from 1 July 2023 to 30 June 2024. Here’s a concise overview of the rates and how they can affect your business.

Latest Rates (Effective from 5 February 2024 to 30 June 2024)

Fuel Type Used in Heavy Vehicles on Public Roads All Other Business Uses
Liquid Fuels (e.g., Diesel, Petrol) 20.8 cents per litre 49.6 cents per litre
Blended Fuels (B5, B20, E10) 20.8 cents per litre 49.6 cents per litre
Blended Fuel (E85) 0 cents per litre 21.295 cents per litre
LPG (Duty Paid) 0 cents per litre 16.2 cents per litre
LNG/CNG (Duty Paid) 0 cents per litre 34.0 cents per kilogram
B100 0 cents per litre 13.2 cents per litre

Rates for Fuel Acquired from 1 August 2023 to 4 February 2024

Fuel Type Used in Heavy Vehicles on Public Roads All Other Business Uses
Liquid Fuels (e.g., Diesel, Petrol) 20.0 cents per litre 48.8 cents per litre
Blended Fuels (B5, B20, E10) 20.0 cents per litre 48.8 cents per litre
Blended Fuel (E85) 0 cents per litre 20.92 cents per litre
LPG (Duty Paid) 0 cents per litre 15.9 cents per litre
LNG/CNG (Duty Paid) 0 cents per litre 33.4 cents per kilogram
B100 0 cents per litre 13.0 cents per litre

Initial Rates (1 July 2023 to 31 July 2023)

Fuel Type Used in Heavy Vehicles on Public Roads All Other Business Uses
Liquid Fuels (e.g., Diesel, Petrol) 18.9 cents per litre 47.7 cents per litre
Blended Fuels (B5, B20, E10) 18.9 cents per litre 47.7 cents per litre
Blended Fuel (E85) 0 cents per litre 20.415 cents per litre
LPG (Duty Paid) 0 cents per litre 15.6 cents per litre
LNG/CNG (Duty Paid) 0 cents per litre 32.7 cents per kilogram
B100 0 cents per litre 12.7 cents per litre

Important Notes

  • Note 1: From 1 November 2019, the rate for heavy vehicles includes fuel used to power passenger air-conditioning in buses and coaches.
  • Note 2: The ‘all other business uses’ rate applies to claims for packaging or supplying fuel for the corresponding fuel type.
  • Note 3: Changes in the heavy vehicle road user charge affect the fuel tax credit rates for fuel used in heavy vehicles on public roads.
  • Note 4: The road user charge for gaseous fuels currently reduces fuel tax credits for these fuels to nil due to scheduled increases in the charge rate.

How to Use the Rates

To claim your fuel tax credits accurately, use the rate applicable on the date you acquired the fuel. For convenience, utilize the ATO’s fuel tax credit calculator available online. This tool is updated with the latest rates, ensuring you report the correct amount on your Business Activity Statement (BAS).

Staying informed about the fuel tax credit rates helps your business recover some costs associated with fuel use. Ensure you apply the correct rates and consider using available tools for accurate reporting.

¬†For further information please visit the ATO website –

https://www.ato.gov.au/businesses-and-organisations/income-deductions-and-concessions/incentives-and-concessions/fuel-schemes/fuel-tax-credits-business/rates-business/from-1-july-2023-to-30-june-2024

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