Every year, Australian businesses operating fleets of vehicles lose out on substantial refunds from the Australian Taxation Office (ATO) simply because they fail to claim the Fuel Tax Credits (FTC) they are entitled to. The potential for financial recovery is enormous, with over 300 claims resulting in a 4-year retrospective refund of approximately $2,200 per vehicle.
Can you imagine a refund of $66,000 for 30 vehicles? With figures like these, the solution pays for itself, it’s time to ask, “Have I claimed all I’m entitled to?”
If your industry covers transport, corporate fleets, service & utility, construction & mining, oil & gas, forestry, hire & rental, community services, or local government, you need to read the following.
Teletrac Navman, Australia’s premier fleet management company, is at the forefront of helping businesses unlock these lost refunds. They are the only fleet management company to have both an ATO Class and Product ruling for claiming FTC, and PepNet as a trusted partner is dedicated to maximising your fleet’s financial potential.
The FTC Challenge:
If you own or operate a fleet of vehicles, ranging from cars and light commercial vehicles to trucks and road trains, chances are you’re eligible for FTC. However, many businesses struggle with the complexities of accurately tracking and claiming these credits. Are you conservative in your claims, do you take an average, or do you simply guess your on-road/off-road usage? Guesswork will not suffice if you are audited by the ATO and have to explain your calculations. You then expose yourself to some pretty hefty fines and penalties.
It’s time to put an end to guesswork.
FTC Manager:
Teletrac Navman’s FTC Manager is a game-changer in the world of fleet management. It goes beyond mere record-keeping by providing precise tracking of on-road travel, off-road travel, off-road idle time, and auxiliary fuel use. This level of accuracy minimises the risk of over-claims, ensuring full transparency with the ATO. With Teletrac Navman, you can now significantly reduce the risk of unsuccessful audits and unsuccessful claims, putting more money back into your pocket.
Beyond the Basics:
Do you know if your fleet includes auxiliary equipment use, idling off public roads, or travelling off public roads? Surprisingly, even waiting in places like Fremantle Port, with engines and air conditioning running, qualifies as off-road usage. Teletrac Navman’s solution accounts for these details with precision, ensuring you claim every cent you’re entitled to.
Retrospective Claims:
What sets Teletrac Navman apart is that the ATO is so confident in their solution that they have provided them with the only Class and Product ruling for FTC in Australia. FTC legislation allows businesses to retrospectively claim refunds for fuel purchased over the last four years if the Teletrac Navman system shows that you’ve been under-claiming. This is a significant opportunity to recoup funds that might have slipped through the cracks.
High-Definition, Real-Time Data:
Teletrac Navman offers second-by-second, high-definition, real-time data, unlike systems with slower update intervals. With a dual-layered system mapping all public road networks and the ability to use Geofences for pinpoint accuracy, every vehicle and asset captures live data, streamlining and automating the claim process.
Tailored Solutions:
No two businesses are the same, and Teletrac Navman understands that. They offer a range of service levels, from raw data fuel tax reports to full compliance management services, allowing you to choose the level of support that suits your needs best.
If you’ve ever wondered whether the ATO owes you a refund for Fuel Tax Credits, it’s time to act. Not only does the solution ensure you claim every cent you’re entitled to, but it also provides the peace of mind that comes with full compliance and reduced audit risk.
To learn more about how Teletrac Navman’s solutions can help you unlock the full potential of your fleet, whether it’s FTC or general fleet management solutions, reach out and call PepNet today at 9267 3333.
It’s time to let your fleet work for you and maximise your refunds with Teletrac Navman and PepNet Technologies.