From 1 July, small businesses may be entitled to more fuel tax credits.

The Australian Tax Office (ATO) is encouraging small business owners to find out if they can save money on their business fuel costs. They have provided a Fact Sheet.

From 1 July this year many small businesses will be able to claim fuel tax credits for the first time, and many others will be able to claim additional fuel tax credits.

In the past, businesses have only been able to claim a fuel tax credit for fuel used in heavy vehicles, such as trucks and specific activities, such as primary production.

Under the new coverage, fuel tax credits can be claimed for the majority of fuel used in business – whether it is used in lawn mowers, whipper-snippers, blower vacuums or cement mixers.

Click here for more information.

Source: NSW DSRD - Western Sydney Update, Edition 6