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Calculate the fuel tax credit for eastern landscaping supply

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Reference no: EM132643147

Eastern Landscaping Supplies Pty Ltd mines sand and have a GST turnover of more than 20 million dollars. Due to this they must report and pay GST monthly. Eastern Landscaping's records show that they used $512,000 of diesel at $1.42 per litre for the month of June 2020. The diesel they use in their excavators are eligible for fuel tax credits. The relevant Fuel Tax Credit rate for the mining industry is 42.30 cents per litre.

Question 1: Calculate the Fuel Tax Credit for Eastern Landscaping Supplies Pty Ltd. Show all calculations

Reference no: EM132643147

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