As 2026 kicks off, now is the perfect time to make sure your business isn’t missing out on valuable GST credits, fuel tax credits, and that you’re prepared for upcoming Business Activity Statement (BAS) deadlines.
Staying on top of your BAS not only helps you avoid penalties — it can also improve cash flow by ensuring you claim every credit you’re entitled to.
GST Credits (Input Tax Credits)
GST credits are GST amounts you’ve paid on business purchases that you can claim back through your BAS, provided you meet the requirements.
If you purchase goods or services for your business and GST is included in the price, you may be able to claim a credit to reduce the amount of GST you owe the ATO.
To claim GST credits:
- Your business must be registered for GST
- The purchase must be used in running your business (not for personal use)
- The supplier must have charged GST
- For purchases over $82.50 (including GST), you must hold a valid tax invoice
Time limit for GST credits
GST credits don’t last forever.
You generally have four years from the BAS due date for the period in which you first could have claimed the credit.
After that, the credit expires — so reviewing older expenses within this four-year window is essential.
Fuel Tax Credits
Fuel tax credits are another way to put money back into your business. 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 be registered for GST
- You must be registered for fuel tax credits
- The fuel must be used in eligible business activities
Fuel tax credit rates:
- Are indexed twice a year
- Vary depending on the type of activity
- Depend on the vehicle or equipment used
Not all fuel use qualifies. For example, fuel used in passenger cars or light vehicles travelling on public roads is generally not eligible, as the government already applies a road-user charge.
Time limit for fuel tax credits
Like GST credits, fuel tax credits generally expire four years after the BAS due date for the period in which you could first have claimed them.
A tax agent can help determine:
- Whether your fuel use is eligible
- Which rates apply
- Whether to amend a past BAS or include missed credits in your next lodgment
BAS Due Dates to Know
Keeping on top of your BAS lodgment dates helps you avoid late penalties and ensures you receive refunds sooner if you’re entitled to one. Start gathering invoices, receipts, and records early to make lodgment stress-free.
Key upcoming BAS and superannuation dates:
21 January 2026
- Due date for monthly reporters to lodge and pay the December 2025 BAS
- Small businesses (turnover up to $10 million) lodging through a tax agent online receive an extension until 21 February 2026
28 January 2026
- Deadline to pay superannuation guarantee (SG) contributions for the October–December 2025 quarter
- If super isn’t received by employees’ funds by this date, you’ll need to lodge an SG charge statement and pay the charge, interest, and admin fees
28 February 2026
- Due date for quarterly reporters to lodge and pay the October–December 2025 BAS
- The one-month small business extension is already included — no further extensions apply
Start the Year Right
Don’t leave credits unclaimed or BAS lodgments until the last minute. We can help:
- Review past BASs for missed GST or fuel tax credits
- Assist with GST and fuel tax credit registration
- Ensure your records and paperwork are ATO-compliant
Starting the year organised can save you headaches later — and help unlock extra business cash flow along the way.