From the 1ST of July 2017, new Fuel Tax Credit Rates apply. A Fuel Tax Credit (FTC) Rate update for Phoenix 8 is available and can be downloaded individually via:
Help > Check for updates.
Alternatively, to check that you have the latest Fuel Tax Credit Rates, you can check this via:
Help > About Phoenix
and it should state “Fuel Tax Rates: 2017.7.1.1” in the Components Field as seen below.
After installing, be sure to add the new fuel tax regime for your fuel sub-categories in Category Setup. This is the only step Phoenix Live users need to worry about because our systems admin team makes sure you have the latest rates available for you.
A reminder, the normal CPI change to FTC rates is expected on the 1st of August 2017, therefore there will be another update for that and new FTC regimes will need to be applied there as well.
Phoenix Version 7 and older versions are no longer receiving fuel tax credit rate updates. For those who are comfortable remaining on those older versions, FTC rate calculators are available on the ATO website. We strongly recommend taking out a Signature Service Plan subscription that has you on the latest version of the software (Phoenix 9 is only a matter of weeks away with many new banks joining in to provide you with bank feeds).
There are two short video tutorials available to help you set up Fuel Tax Credits. If you are a Signature Service Plan subscriber you can access these via:
Help > Video Tutorials
There are over 80 short videos available for you to get the most out of Phoenix.