As we move further into 2026, it’s a good time for businesses to review their GST and fuel tax credit entitlements. These credits can provide meaningful cash‑flow benefits, yet many businesses unintentionally miss out due to record‑keeping issues, outdated processes, or simply not realising what they can claim.
GST Credits: What you need to get right
GST credits can only be claimed when you hold a valid tax invoice for purchases over the threshold and the expense relates directly to your business activities.
Common issues that lead to missed credits include:
- Missing or incomplete tax invoices
- Supplier ABNs that don’t match ATO records
- Incorrect GST coding in accounting software
- Claiming credits for purchases with private use components
- Not realising certain business expenses are eligible
The 4-Year time limit
GST credits expire four years after the BAS due date for the period in which you first could have claimed them. If you discover missed credits from older periods, you may no longer be able to recover them — making regular reviews essential.
Fuel Tax Credits: A valuable but often overlooked opportunity
Fuel tax credits provide a rebate for the fuel tax already built into the price of fuel used in eligible business activities. Many businesses assume they don’t qualify, but eligibility is broader than most people realise.
You may be entitled to claim if you use fuel in:
- Machinery
- Generators
- Construction or earthmoving equipment
- Off‑road vehicles
- Certain heavy vehicles
Registration requirements
To claim fuel tax credits, your business must be:
- Registered for GST, and
- Registered for fuel tax credits
Many businesses meet the first requirement but overlook the second.
Rates change twice a year
Fuel tax credit rates are indexed every February and August, and different activities attract different rates. Using outdated rates can lead to under‑claiming or over‑claiming.
The same 4-year time limit applies
Just like GST credits, fuel tax credit entitlements expire four years after the BAS due date for the relevant period. If you’ve missed claims in prior years, the window to correct them may be closing.
Upcoming BAS deadline
For quarterly reporters, 2 March 2026 is the due date to lodge and pay the October–December 2025 BAS. Although the standard deadline is 28 February, this year it falls on a Saturday — so the ATO automatically moves the due date to the next business day.
The usual one‑month small‑business extension for the December quarter is already built into this timing, meaning no further extensions apply.
This makes now the ideal time to review your GST and fuel tax credit claims before lodging.
Don’t leave it to the last minute
Sorting out GST coding, fuel usage records, and tax invoices under time pressure increases the risk of errors and missed entitlements. A quick review now can help ensure:
- You’re claiming everything you’re entitled to
- Your records are complete and compliant
- Your BAS is accurate before submission
We’re here to help
If you’re unsure whether you’re maximising your GST or fuel tax credits — or if your business activities have changed and you want to make sure your claims are accurate — our team can guide you through the process. We can help you review your records, identify opportunities, and ensure your BAS is prepared with confidence.
To discuss your situation or arrange a review, contact the team at Regency Partners.
