Flagpost is a blog on current issues of interest to members of the Australian Parliament
Recently there has been debate over the nature of the rebate of the excise paid on fuels, paid under the fuel tax credits scheme. This FlagPost clarifies the purpose of the rebate.The excise on petrol and diesel is a tax on business inputs as well as on final use by households. Businesses using petrol and diesel as inputs into production processes pay excise of 38.143 cents per litre. Under the fuel tax credits scheme, eligible businesses can claim a rebate—in full or in part—of the excise that they have paid. In 2010-11, the value of these credits amounted to $5.1 billion. The main recipient industries were mining ($2.031 billion), transport, postal and warehousing ($988 million), and ag... Read more...
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