Fuel tax credit available for business use

With the increased cost of petrol and diesel, there is much discussion around the embedded fuel excise of 44.2 cents* per litre in the price of fuel.

Fuel excise tax, which is indexed to the consumer price index (CPI), generally increases twice a year in February and August. The taxes raised from the fuel excise tax play an important part in funding national road infrastructure. The fuel excise tax is generally only borne by users of light vehicles and partially by trucks with a gross vehicle mass greater than 4.5 tonnes when those vehicles are used on a public road.

Source KPMG

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