Fuel Tax Credits For Taxi Drivers.

Do you need to register for fuel tax credits?
You only need to register if you are eligible to claim fuel tax credits.

Are you eligible to claim fuel tax credits?
You are not eligible to claim fuel tax credits for a light vehicle with a gross vehicle mass (GVM) of less than 4.5 tonnes, travelling on a public road – such as a taxi, car or small van.

However, you can claim fuel tax credits if you acquire and use fuel in your heavy vehicle travelling on a public road (for example a taxi truck). In order to do this, you must be registered for goods and services tax (GST) and fuel tax credits.

A heavy vehicle has a GVM greater than 4.5 tonne (diesel vehicles acquired before 1 July 2006 can equal 4.5 tonne GVM). If you operate a taxi truck with a GVM greater than 4.5 tonnes on a public road, you must meet one of four environmental criteria.

What should you do if you have registered and are not entitled to claim fuel tax credits?
You can cancel your registration by:

• accessing the Business Portal (if you are registered to deal with the ATO electronically)
• completing the form Application to cancel registration (NAT 2955)
• phoning the ATO on 13 28 66 between 8.00am and 6.00pm, Monday to Friday.
  

What should you do if you have incorrectly claimed fuel tax credits?
If you have incorrectly claimed fuel tax credits, you need to make a fuel tax credit adjustment on your BAS. 
 
What if you are still unsure about your eligibility?
You can access the fuel tax credit eligibility tool at www.ato.gov.au/fuelschemes – this tool is designed to help you determine if you are eligible to claim fuel tax credits.

If you are still unsure phone the ATO on 13 28 66.

About the Author
 
Warren Kruger is an Australian Tax Specialist and Advisor.
 
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About The Author

Warren Kruger is an Australian Tax Specialist and Advisor. For a FREE Report “7 Essential Strategies to Reduce Your Taxation NOW!”,enter your name and email address in the Opt In Box located on the top right hand side of this article.

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