GST on fuel
An estimate of the GST credit on fuel for a BAS period, worked out from your fuel spend and your classified trips.
Cruise
TurboIf you are registered for GST, the fuel you buy for business use carries a credit you can claim on your BAS. This report estimates it from what you have already recorded.
What it shows
Fuel spend for the period, the share of it that is business use, and the GST credit that follows. Business use comes from your classified trips, so the report is only as good as your classification.
It is an estimate to support a BAS, not a lodged figure. It assumes GST at 10 per cent of the amount paid, and works business use out from your classified trips. Your accountant may reasonably arrive at a different number.
A vehicle with fuel but no trips
A vehicle with fuel spend but no classified trips shows no credit, not a zero one. There is a difference: no credit means the report cannot tell what share was business, not that the share was nothing. Classify the trips and run it again.
Last updated Sun Sep 27