Fuel Tax Credit Calculator

This simple Fuel Tax Credit Calculator can help you understand how different factors related to your fleet operations might affect your Fuel Tax Credits. Just select the options and enter your fuel values, and you can see how the three of the commonly used Fuel Tax Credit calculation methods compare, enabling you to maximise your rebate. Prism has years of experience with commercial fleet analytics and is ready to help you streamline your operations and generate the most optimised tax returns.

This calculator is provided for informational purposes only. The rules and data it uses are acurrent up to 31 July 2023. We encourage you to seek professional tax advice in relation to any Fuel Tax Credit claims you choose to make.

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Important things to know about FTC

  • Only Heavy Vehicles, those over 4.5 tonnes GVM, are elligible for the On-Road FTC component, which is a rebate for the Fuel Excise less the Road User Charge.
  • There isn't a single method you must use to calculate FTC. There are several commonly accepted methods but you can also use other methods that can be demonstrated to be fair and reasonable.
  • There is no requirement to use any specific technology or tool to calculate your claim, but technology (like Prism..!) can help you improve your claim amount, manage your information and reduce the time required to complete a claim.
  • The ATO provides various 'Safe Harbour' and simplified methods for calculating FTC. These can be useful if your claims are under certain thresholds or there is little difference in the results achieved through more detailed calculations of the individual components.
  • When using a Safe Harbour rate for vehicles using Auxiliary Equipment, the rate includes the off-road components as well. So you cannot calculate the off-road component seperately.
  • If you use GPS or other advanced technology to calculate your FTC amounts, you still need to keep other business records (such as log books, delivery dockets, fuel receipts, engine diagnostic reports etc) that can be used to validate the data recorded by, or used in, the GPS system.
  • Much like personal tax returns, the business submitting the claim is responsible for ensuring the integrity of the process and data used to produce their claim, even if third partys are assigned to perform the work.

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