Fuel tax credits

Fuel tax credits are reductions in the amount of tax businesses pay on fuel they purchase for machinery and vehicles used in their operations. This financial benefit helps offset the costs associated with fuel, making it cheaper for businesses that rely on fuel for transportation or equipment. Typically, eligible businesses can claim these credits when lodging their tax returns, effectively lowering their overall tax liability. Fuel tax credits aim to support industries like farming, mining, and transport, promoting economic activity by providing some relief from fuel expenses.