Fuel Tax Claim Potential Errors in prior period BAS returns

Fuel Tax Claim Potential Errors In Prior Period Bas Returns

From 30 March 2022 to 28 September 2022, businesses that acquired fuel for use in heavy
vehicles for travelling on public roads couldn’t claim fuel tax credits.


This is because the road user charge was more than the excise duty paid, which reduced the fuel tax credit rate
to nil.
Without realising this change, many businesses claimed the normal (old) fuel tax credit during this period in June 2022 Business Activity Statement (BAS).
To correct the overclaim, a correction can be made on the next quarterly BAS to decrease fuel tax credit amount, by including at label 7C (Fuel tax credit over claim).
If your GST turnover is less than $20m, this error must be corrected within 18 months.


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Coutts Redington
First and foremost, we’re accountants. But we like to think of ourselves as a lot more. We work closely alongside business owners to bring more clarity, direction, and support, improving elements of your life beyond just the business. And, with our firm’s history in the Townsville area going back to the 1950s, we’re an established part of the local business community. We take that responsibility seriously.

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