Revised excise tax rates and tax credit rates for fuel from 1 February 2023

The Australian Taxation Office has updated the excise tax (duty) rates for fuel and petroleum products and fuel tax credit rates beginning 1 February 2023.

Based on the latest consumer price index (CPI) indexation factor of 1.037, the ATO’s excise tax rates on fuel and petroleum products will increase by 3.7% from 1 February 2023—with the exception of aircraft fuel and lubricants.

Source KPMG