Don’t miss out this year: GST credits, fuel tax credits and your BAS

As 2026 kicks off, it’s a good time to make sure your business isn’t missing out on valuable GST credits and fuel tax credits when lodging your BAS.

GST credits (input tax credits)

GST credits, also known as input tax credits, are GST amounts you’ve paid on business purchases that you can claim back. If you buy goods or services for your business and the price includes GST, you may be able to claim a credit on your BAS to reduce the amount you owe the ATO.

Only GST‑registered businesses can claim GST credits. You can only claim credits for goods or services used in running your business, not for personal expenses. The supplier must have charged GST, and for purchases over $82.50 (including GST), you must hold a valid tax invoice.

Time limits for claiming GST credits

There is a strict time limit for claiming GST credits. In most cases, credits expire four years after the BAS due date for the period in which you first could have claimed them. If you miss that window, the credit is lost, so it’s important to review older expenses regularly.

Fuel tax credits

Fuel tax credits are another way to improve business cash flow. If your business uses eligible fuel in certain vehicles, machinery or equipment, you may be able to claim a credit for the fuel tax (excise) already included in the fuel price.

To claim fuel tax credits, you must register for both GST and fuel tax credits. The ATO indexes fuel tax credit rates twice a year, and different activities attract different rates.

Not all fuel use is eligible. For example, fuel used in passenger cars or light vehicles travelling on public roads generally doesn’t qualify, as the government already applies a road‑user charge.

Like GST credits, fuel tax credits are subject to a four‑year time limit from the BAS due date for the period in which you first could have claimed them.

Your tax agent can help you determine whether your fuel use is eligible, which rates apply, and whether you should correct a past BAS or include missed credits in your next BAS lodgment.

Start the year right

Don’t leave credits or BAS lodgments until the last minute. Reviewing your GST and fuel tax credits early can save you stress later and may unlock valuable cash flow for your business.