Unlock your potential Fuel Tax Credit (FTC) with our easy-to-use calculator for Australian businesses. Quickly estimate your eligible refund for fuel used in eligible activities, from heavy vehicles on public roads to machinery off-road. Simply input your fuel usage and the current ATO rate to see your potential credit.
Formula:
The Fuel Tax Credit (FTC) is calculated by multiplying the total eligible litres of fuel by the current FTC rate per litre.
FTC = Total Litres × (FTC Rate / 100)
Where:
- Total Litres: Total litres of eligible fuel used.
- FTC Rate: The applicable Fuel Tax Credit rate in cents per litre (check ATO website for current rates).