Fuel Tax Credit rates increase bi-annually from 1 February 2015
The Government announced in the 2014-15 Budget that it would be reintroducing bi-annual indexation on all fuels except aviation fuels.
What this means is that the Fuel Tax Credit (FTC) rates to claim on eligible fuel purchases is set to increase in February and August each year, based on the Consumer Price Index (CPI).
So, if you claim the credit you need to make sure you are using the correct rates.
Any eligible fuel purchased in January 2015 will be claimed at the old FTC rate and eligible fuel purchased from 1 February 2015 to 31 July 2015 will be claimed at the rate as indicated below.
Each year in February & August we will post a blog article indicating the new FTC rates.
Business use
In a heavy vehicle (including emergency vehicles) for travelling on public roads
From 1 July 2014..................12.003
From 10 November 2014....12.46
From 2 February 2015.........12.76
All other business uses – on private roads, off public roads and non-fuel uses
From 1 July 2014..................38.143
From 10 November 2014....38.6
From 2 February 2015.........38.9
To power auxiliary equipment of a heavy vehicle travelling on public roads – such as fuel used to power a refrigeration unit or a concrete mixing barrel
From 1 July 2014..................38.143
From 10 November 2014....38.6
From 2 February 2015.........38.9
2015-03-11
