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From 1 July 2010, the fuel tax credit rate for heavy vehicles that use fuel such as diesel or petrol and travel on public roads is 15.543 cents per litre. This rate change is due to an increase in the road user charge.
A heavy vehicle is defined as:
* one with a gross vehicle mass (GVM) of greater than 4.5 tonne, or
* a diesel vehicle acquired before 1 July 2006 with a GVM equal to 4.5 tonnes or more.
Please use this new rate when completing an activity statement for the 2010/11 year.
To substantiate your claim, you will need to keep records that show you have acquired the fuel and how you have used it. Fuel dockets, invoices and log books are examples of acceptable records.
Table: Fuel tax credits – what you can claim in cents per litre
|
Activity/business use
|
Eligible fuel
|
From
1 January 2009
|
From
1 July 2009
|
From 1 July 2010
|
|
In a vehicle greater than 4.5 tonne GVM travelling on a public road (diesel vehicles acquired before 1 July 2006 can equal 4.5 tonne GVM).
|
All taxable fuels – for example, diesel and petrol.
|
17.143*
|
16.443*
|
15.543*
|
|
Emergency vehicles greater than 4.5
tonne GVM travelling on a public road (diesel vehicles acquired before 1 July 2006 can equal 4.5 tonne GVM).
|
All taxable fuels – for example, diesel and petrol.
|
17.143*
|
16.443*
|
15.543*
|
|
Specified activities eligible since 1 July 2006 in:
 agriculture
fishing
forestry
mining
marine transport
rail transport, and
nursing and medical.
|
All taxable fuels for example diesel, petrol and fuel oil.
Note: Don’t include fuel used in vehicles greater than 4.5 tonne travelling on a public road.
|
38.143
|
38.143
|
38.143
|
|
Burner applications.
|
All taxable fuels – for example, diesel, petrol, heating oil, kerosene and fuel oil.
|
38.143
|
38.143
|
38.143
|
|
Non-fuel uses such as:
fuel you use directly as a mould release, and
fuel you use as an ingredient in the manufacture of products.
|
All taxable fuels – for example, kerosene, fuel oil, toluene, mineral turpentine and white spirit.
|
38.143
|
38.143
|
38.143
|
|
Packaging fuels in containers of 20 litres
or less for non-internal combustion
engine use.
|
Mineral turpentine, white spirit, kerosene and certain other fuels.
|
38.143
|
38.143
|
38.143
|
|
Supply of fuel for domestic heating.
|
Heating oil and kerosene.
|
38.143
|
38.143
|
38.143
|
|
Electricity generation by a commercial generation plant, a stationary generator
or a portable generator.
|
All taxable fuels – for example, diesel, petrol, heating oil, kerosene, and fuel oil.
|
38.143
|
38.143
|
38.143
|
|
Emergency vessels.
|
All taxable fuels for example diesel, petrol and fuel oil.
|
38.143
|
38.143
|
38.143
|
|
All other activities, machinery, plant and equipment are eligible for fuel
acquired from 1 July 2008.
Examples of activities are:
construction
manufacturing
wholesale/retail
property management, and
landscaping.
|
All taxable fuels – for example, diesel and petrol.
These activities have only been eligible since 1 July 2008.
|
19.0715**
|
19.0715**
|
19.0715
**
|
|
*
|
This rate accounts for the road user charge, which is subject to change.
Heavy vehicles (that is, those with a GVM greater than 4.5 tonne) travelling on a public road are entitled to the fuel tax credit rate of 38.143 cents per litre minus the road user charge.
From 1 July 2010, the road user charge is 22.6 cents per litre, so the rate for heavy vehicles is 15.543 cents per litre (38.143-22.6 = 15.543).
|
|
**
|
The rate of 19.0715 cents per litre is 50% of the full rate of 38.143 cents per litre. The full rate will apply to all these activities from 1 July 2012.
|
If you have any queries do not hesitate to contact your C&W advisor.
Local artist Amanda Humphries has painted this beautiful painting for our Reception area
which has given a warm and welcome touch the office.
Fuel tax credit rate change for heavy vehicles - 1 July 2010
From 1 July 2010, the fuel tax credit rate for heavy vehicles that use fuel such as diesel or petrol and travel on public roads is 15.543 cents per litre. This rate change is due to an increase in the road user charge.
A heavy vehicle is defined as:
* one with a gross vehicle mass (GVM) of greater than 4.5 tonne, or
* a diesel vehicle acquired before 1 July 2006 with a GVM equal to 4.5 tonnes or more.
Please use this new rate when completing an activity statement for the 2010/11 year.
To substantiate your claim, you will need to keep records that show you have acquired the fuel and how you have used it. Fuel dockets, invoices and log books are examples of acceptable records.
* This rate accounts for the road user charge, which is subject to change.
Heavy vehicles (that is, those with a GVM greater than 4.5 tonne) travelling on a public road are entitled to the fuel tax credit rate of 38.143 cents per litre minus the road user charge.
From 1 July 2010, the road user charge is 22.6 cents per litre, so the rate for heavy vehicles is 15.543 cents per litre (38.143-22.6 = 15.543).
** The rate of 19.0715 cents per litre is 50% of the full rate of 38.143 cents per litre. The full rate will apply to all these activities from 1 July 2012.
If you have any queries please do not hesitate to contact your C & W advisor.
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Incorrect amounts at reportable employer super contributions on payment summaries.
Some employers have been incorrectly including compulsory super amounts as reportable employer super contributions on their employees' payment summaries for the 2009-10 income year, such as:
- super guarantee contributions
- industrial agreement (award) super contributions.
Reportable employer super contributions should only include additional super contributions made by an employer, for example, super contributions made on behalf of an employee under a salary sacrifice arrangement.
Employer clients
Clients may have issued payment summaries to their employees that incorrectly include compulsory super amounts. If so they can notify any affected employees about the error and issue them with amended payment summaries.
If these employers have already lodged their payment summary annual report with the ATO, they will need to lodge an amended annual report.
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Key superannuation rates and thresholds for 2011 income year.
The following caps apply to super contributions for the 2011 income year:
- Concessional contributions cap is $25,000.
- Non-concessional contributions cap is $150,000.
- The CGT cap amount is $1,155,000.
ATO compliance program 2010/2011.
The commissioner has released the Compliance Program for the 2011 income year. The focus areas identified in the program are:
- Auditing more than 100,000 SMEs and 26,000 micro-businesses
- For individuals, reviewing the details of employee share schemes, executive salary perks and whether they are included as income, data matching for under reporting of income and expenses claimed for home offices.
- Tax break claims reviews (e.g investment allowance)
- Inappropriate use of prior year losses by SMEs
- Division 7A issues such as loans, amounts forgiven and payments
- Trusts reporting including TFN of beneficiaries
- International transactions, profit shifting
- CGT - access to small business concessions,artificial inflation of cost base to reduce CGT.
- GST
- Fringe benefits
- Superannuation - loans to related parties
Both major parties are proposing all sorts of changes if elected at the forthcoming federal poll. There will be changes regardless of the winner. We will advise of these changes in the next bulletin.
Quote of the Month
"An election is coming. Universal peace is declared, and the foxes have a sincere interest in prolonging the lives of the poultry." George Eliot
C & W Partners would like to bring to your attention the next theatrical performance being brought to Moree
by our local arts council,
"Driving Miss Daisy".
Our firm is sponsoring the evening and encourage as many of our clients and collegues to attend to support the show.
We have attached a promotional flyer for you.
Hope to see you there.
Moree performance - Tuesday 14 September
7.30pm at the Moree Memorial Hall
Proudly sponsored by C&W Partners
Production presented by the Moree Arts Council and HIT Productions
Tickets available from My Store 6752 5322 and Sylvias’s Fabrics 6752 2844
Adults: $35, Pensioners: $25, School students: $15
Australia’s Premier Theatre Touring Company, HIT Productions is pleased to announce their Australian tour of Alfred Uhry’s Driving Miss Daisy. Starring Debra Lawrance (Home & Away, Blue Heelers, Steel Magnolias) as Daisy Werthan, Brian Davison (Of Mice & Men, The Miracle of the Rose) as Hoke Colburn and Tamblyn Lord (Explorations Macbeth, Summer of the Aliens) as Boolie Werthan.
When Daisy (Debra Lawrance), an elderly Jewish widow crashes her car, her son Boolie (Tamblyn Lord) decides that she is no longer fit to be behind the wheel. Against the protest of his stubborn and independent mother, Boolie hires Hoke (Brian Davison) an African-American chauffeur. From this unlikely union, a heart-warming friendship ensues.
Set in Atlanta, Hoke and Daisy’s relationship spans over 20 years from 1948 to the early 1970’s, growing from rocky beginnings to a deep friendship. The explosive racial tensions of the Deep South provide a provocative background as the interdependent relationship of these two Southern allies develops.
“Worth the drive from anywhere. A total delight!” The New York Daily News
“A heart warming tale about the manner in which two people of goodwill cross the deep ravines of cultural borders and come to an understanding and respect for each other” The New York Times
C & W Partners would like to bring to your attention the next theatrical performance being brought to Moree
by our local arts council,
"Driving Miss Daisy"
Our firm is sponsoring the evening and encourage as many of our clients and collegues to attend to support the show.
Hope to see you there.
Moree performance - Tuesday 14 September
7.30pm at the Moree Memorial Hall
Proudly sponsored by C&W Partners
Production presented by the Moree Arts Council and HIT Productions
Tickets available from My Store 6752 5322 and Sylvias’s Fabrics 6752 2844
Adults: $35, Pensioners: $25, School students: $15
Australia’s Premier Theatre Touring Company, HIT Productions is pleased to announce their Australian tour of Alfred Uhry’s Driving Miss Daisy. Starring Debra Lawrance (Home & Away, Blue Heelers, Steel Magnolias) as Daisy Werthan, Brian Davison (Of Mice & Men, The Miracle of the Rose) as Hoke Colburn and Tamblyn Lord (Explorations Macbeth, Summer of the Aliens) as Boolie Werthan.
When Daisy (Debra Lawrance), an elderly Jewish widow crashes her car, her son Boolie (Tamblyn Lord) decides that she is no longer fit to be behind the wheel. Against the protest of his stubborn and independent mother, Boolie hires Hoke (Brian Davison) an African-American chauffeur. From this unlikely union, a heart-warming friendship ensues.
Set in Atlanta, Hoke and Daisy’s relationship spans over 20 years from 1948 to the early 1970’s, growing from rocky beginnings to a deep friendship. The explosive racial tensions of the Deep South provide a provocative background as the interdependent relationship of these two Southern allies develops.
“Worth the drive from anywhere. A total delight!” The New York Daily News
“A heart warming tale about the manner in which two people of goodwill cross the deep ravines of cultural
borders and come to an understanding and respect for each other” The New York Times
