miners to claim more fuel tax credits

Miners to claim more fuel tax credits


Friday, 18 April 2008

FROM July this year the mining industry will be given greater access to fuel tax credits, allowing it to save money on business-related fuel costs.



Previously businesses could only claim a fuel tax credit for fuel used in heavy vehicles such as trucks and for specific activities in mining.

Under the expansion, fuel tax credits will be able to be claimed on the majority of fuel used in business, with the exception of alternative fuels and fuel used in lightweight vehicles travelling on public roads, such as cars or small vans.

From now on businesses will be able to claim fuel tax credits on varying rates for the following:





Fuel used in specialised activities in mining, transport, rail transport and other industries;

Fuel used in vehicles with a gross vehicle mass greater than 4.5 tonnes travelling on public roads;

Electricity generation;

Non-fuel use, such as burner applications and solvents; and

Fuel used in all other business activities, machinery, plant and equipment.