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Reporting Fuel Tax Rebate

Fuel tax credits provide businesses with a credit for the fuel tax (excise or customs duty) that are included in the price of fuel used in:

  • machinery
  • plant
  • equipment
  • heavy vehicles
  • light vehicles travelling off public roads or on private roads.

The Fuel Tax Rebate is a unique feature to Agrimaster and can be claimed on your monthly or quarterly Business Activity Statement. The amount depends on when you acquire the fuel, what fuel you use and the activity you use it in.

The ATO requires that fuel rebates be calculated based on the date fuel was delivered to you, not on the date paid for. The Delivery Date in fuel transaction entries enables you to record discrepancies between the date of the payment for fuel invoices and the date fuel is delivered so the discrepancies can be addressed. 

Claiming on Cash Basis

For files claiming on a Cash basis, the Date (or transaction date) determines the BAS period the GST is claimed on. The Delivery Date determines the BAS period the Rebate is claimed on.

Cash basis example;
Fuel delivered on the 29 September but paid on the 3 October will have the Fuel Rebate claimed in the June-September BAS and the GST claimed in the October-December BAS.

Claiming on Accruals Basis

For files claiming on an Accruals basis, the Invoice Date determines the BAS period the GST is claimed on. The Date (or transaction date) is used for the purposes of reconciling bank accounts. Similarly to Cash basis, the Delivery Date determines the BAS period the Rebate is claimed on.

Accruals basis scenario example;
If fuel was delivered on 30 November, invoiced by the Fuel Company on 14 December and paid in January. In this case, in Agrimaster, the Rebate applied to the claim would be from the August rate change, the rebate and GST will be claimed in the September to December quarter and the bank account with the amount paid will be reconciled in January.

Fuel Rebate on Tax Reports

There are 3 tax reports that fuel transactions appear on;

  • Fuel Rebate Report
  • GST Report
  • Business Activity Statement

To access these reports:

  1. From the Home Page, click Cashbook Reports
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  2. Click Tax Reports
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  3. Click the dot next to the report you want to view
  4. A message will pop up, asking if you want to Continue with draft report. Click Yes
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  5. Another message may pop up to remind you to check the Fuel Tax Setup.
    If you want to check your setup, click Yes. If you don't, click No.
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  6. If you clicked No, 

Fuel Rebate Report

The rebate claim can be seen in the Fuel Tax Rebate (Details) Report. This includes the transactions made during the tax period, the number of litres of Diesel and Petrol, the claimable amount based on usage and the rebate.

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GST Full Report

The GST claim can be seen on the GST (Full Report). The Full Report shows each fuel purchases under Taxable Acquisitions (G11) and Total Acquisitions (G12).

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Business Activity Statement

The Fuel Tax Rebate and GST claim are summarised on your BAS. You can have a look at your BAS before closing your period by selecting BAS (View and Print only). Similarly to the GST (Full Report), fuel purchases will be part of the Taxable Acquisitions (G11) and Total Acquisitions (G12) figures. 

On the final page of the BAS, it will calculate the Fuel Tax Credit claim based on Fuel Tax Credit Overclaim (7C) in the previous period and Fuel Tax Credit (7D) owed in this period, detailed in the Fuel Tax Rebate (Details) Report.

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