The Australian Government temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel and all other petroleum-based products (except aviation fuels) for 6 months from 30 March 2022 until 28 September 2022. This has caused a reduction in fuel tax credit rates.
During this 6 months period, businesses using fuel in heavy vehicles for travelling on public roads won't be able to
claim fuel tax credits for fuel used for this purpose. This is because the road user charge exceeds the excise duty payable, and this
reduces the fuel tax credit rate to nil.
You can find the ATO’s updated fuel tax credit rates that apply for the period from 30 March 2022 to 30 June 2022 here.
The ATO’s
fuel tax credit calculator
has been updated to apply the current rates.
ALL DAY CONFERENCE @ Mornington Racecourse
6 May 2025 - 8:30am - 5:30pm
In today’s fast-changing world, staying competitive means embracing new trends and technologies. At B.I.T.E.
Conference 2025, you'll discover groundbreaking strategies and tools—like A.I. and robotic process automation—designed to
help you navigate and succeed in the evolving business landscape.
Mortgage brokers have access to a broad panel of lenders, ranging from major banks to specialist lenders.
Equipment finance offers a flexible solution for acquiring the assets your business needs without significant upfront costs.
Commercial properties showed remarkable strength in 2024, with the essential service sectors driving significant growth across the Australian market.
Creating an effective budget is crucial for successful saving. One way to do this is to set up multiple debit cards for different spending categories.
Debtor finance is a financial arrangement where a business uses its accounts receivable (unpaid customer invoices) as collateral to secure funding.
Asset finance can be a powerful tool to help businesses work their way through the season smoothly while setting up for long-term growth.
The Australian commercial property market is set for a rebound in 2025, amid changing market conditions and renewed investor interest expected to lead the recovery.
The commercial property market is entering a period of strategic change, with new trends reshaping investment opportunities across various sectors.
While most car loans typically run for three to five years, extending beyond this can lower your monthly repayments.
Properties in markets with high supply levels or significant fluctuations in prices may be seen as higher risk.
Banks use this credit score to assess your creditworthiness, and it can significantly impact your ability to secure good financing terms.
For many Australians, purchasing an investment property first – known as 'rentvesting' – can be a smarter financial strategy.
The property investment landscape in Australia is experiencing a significant shift, as Queensland approaches Victoria's position as the second-largest investor market in the country.
Open homes can be overwhelming for first-time buyers. With so much at stake, asking the right questions is crucial to making an informed decision.
A good credit score can lead to better loan terms, lower interest rates and smoother approval processes.
Asset finance can be a powerful tool for startups looking to purchase equipment and technology without using up their cash reserves.
Sydney has emerged as Australia's retail powerhouse, while office markets across the country continue to face challenges.
Commercial properties leased to established charities are emerging as highly sought-after investments.
Australia's construction sector, with commercial and infrastructure projects reaching record levels while residential development declines.
Darren and Jenny have one child and are planning for his secondary education at a Melbourne private school. Utilising education bonds, they aim to ensure they have sufficient funds to cover all tuition fees and associated costs throughout his education.
As Australia's highest marginal tax bracket impacts more individuals, a growing number of Australians face rising tax obligations due to "bracket creep," where wage growth outpaces tax rate adjustments. This trend is expected to persist, with tax-efficient strategies the backbone for financial advice to help individuals secure long-term wealth.
Car loan refinancing involves replacing your existing car loan with a new one. The new loan pays off your existing debt, allowing you to start making payments on the refinanced car loan.
Lenders often view job stability and income consistency as key factors in their loan approval process, which can make it tricky if you're settling into a new role.
Making an offer on a property for the first time is both exciting and nerve-racking. It’s important to take several steps to ensure you’re making a well-informed decision
The presidential election in the US on 5 November could dominate headlines during October, before the next meeting of the Federal Reserve later that same week. Investors are already debating whether a further reduction in borrowing costs in the US could be announced following this meeting.
Melbourne's housing market has experienced a significant shift in recent years, with its median dwelling value now ranking sixth-lowest among Australia's capital cities.
Refinancing your home loan can be a great way to save money, but it’s important to avoid common pitfalls.
Spring is a popular time to sell homes, with warmer weather and blooming gardens creating an inviting atmosphere that brings out the best of any property.
Discover 9 essential financial planning tips to help new and expecting parents manage the costs of parenthood with confidence and ease.
Cash flow is the lifeblood of any business and when payments are delayed, it creates an immediate strain.
Small business loans are often misunderstood. These misconceptions can prevent owners from taking advantage of valuable opportunities to grow their businesses.
Australia's CBD retail markets are showing signs of recovery post-pandemic with luxury brands leading the charge.
There are still excellent opportunities for commercial investors in retail and industrial sectors thanks to the current property cycle.
The Australian business landscape is expanding, signalling a potentially strong future for commercial property markets.
The global economy is being shaped by conflicting triggers. These include productivity-boosting technology innovations, geopolitical tensions and the strident efforts of central banks to bring inflation under control. We examine the economic outlook and discuss the implications for your retirement savings.
In this episode of The Accountant That Builds, host Shannon Smit discusses the massive wealth transfer expected from Baby Boomers to the next generation, estimated at $84 trillion. Shannon highlights the opportunities and challenges of this transfer, focusing on estate planning, tax liabilities
Over the coming years, we’re about to witness the largest wealth transfer in history as Baby Boomers pass their hard-earned fortunes to younger generations. With an estimated $84 trillion set to be transferred, mostly from savings, investments, and real estate, this shift holds both incredible opportunities and significant challenges for families.
The Taxable Payments Annual Report (TPAR) is a mandatory report for Australian businesses in certain industries to disclose contractor payments to the ATO by August 28 each year, ensuring accurate tax reporting.
Changes to aged care fees are coming, and they will impact both home care and residential care. After a long wait and lots of speculation, the government has released details of the proposed changes.
Our aged-care financial advice case studies showcase real scenarios where our clients saved thousands by leveraging strategies regarding the family home, negotiating RADs and optimising care facility choices.
WEBINAR 11 SEPT // 12PM
In the third session, we'll delve into superannuation guarantee changes, including proposed changes to payday superannuation, new rates and
bases, and the impact on SG liability. Gain insights into employer deductions, termination of employment considerations and more.
WEBINAR 4 SEPT // 12PM
Master allowances and reimbursements, understand their PAYG and super guarantee implications, and learn to navigate travel vs.
living-away-from-home allowances. Gain insights into FBT considerations, new ATO record-keeping requirements, and effective salary packaging
arrangements.
Understanding the factors that influence your interest rate can help you secure a better deal.
Starting July 1st, 2024, non-profit organisations (NFPs) in Australia with an ABN, but not recognised as charitable, must annually submit a NFP self-review return to the ATO to confirm their tax exemption status. This process involves three main sections:
The choice between a motorbike loan and a personal loan depends on your financial situation, credit profile and preferences.
As Australia's highest marginal tax bracket impacts more individuals, a growing number of Australians face rising tax obligations due to "bracket creep," where wage growth outpaces tax rate adjustments. This trend is expected to persist, with tax-efficient strategies the backbone for financial advice to help individuals secure long-term wealth.
Discover 9 essential financial planning tips to help new and expecting parents manage the costs of parenthood with confidence and ease.
The Taxable Payments Annual Report (TPAR) is a mandatory report for Australian businesses in certain industries to disclose contractor payments to the ATO by August 28 each year, ensuring accurate tax reporting.
.png)
.png)
.jpg){kind=logo}
