Processing Fuel Tax Credits (FTC) may appear a straight forward task to many, however this is not always the case due to ongoing changes involved with claiming fuel tax credits. Unfortunately these changes are not always transparent to those claiming FTC.
At Access Capital we want to make sure our clients are receiving the Fuel Tax credits which they are entitled to – potentially generating additional income as a result!!
We have therefore partnered with AIT Specialists Pty Ltd (AIT) to provide assistance to our clients throughout Australia to ensure they claim and receive the correct entitlements for their Fuel Tax credits.
The following are two examples of how AIT have recently assisted businesses save money!
A regional bulk haulage and landscape supplies business with a fleet of 12 prime movers and tipper trailers conducted a review through AIT Specialists. Due to legislation changes made within the last 4 years, it was identified that all trucks were eligible to claim back additional Fuel Tax Credits (FTC) that would have otherwise been missed.
A retrospective back claim was prepared, totalling in excess of $50,000.
In addition to the back claim prepared, AIT Specialists has now set the business up to maximise their FTC entitlement in the future
A medium sized civil contractor was confident that their Fuel Tax Credit (FTC) claims were correct and the business was across all the current legislation, however the business owners agreed to an FTC review by AIT Specialists.
The review was conducted and uncovered many avenues that lead to the recovery of additional Fuel Tax Credits in excess of $250,000.
In addition AIT Specialists were engaged to manage the business FTC position ongoing resulting in an increase in their annual FTC entitlement by a minimum of $44,000 p.a.
The above are not isolated cases. A large number of businesses are currently not claiming the amount of Fuel Tax Credits they are entitled to!
To see if you are missing out on valuable Fuel Tax Credits please contact either Jake, Dean Bailey, Dean Kumnick, Peter, John or Liz at Access Capital to arrange to have your claims checked.
PLEASE NOTE: AIT Specialists fee structure is based on a success rate. If additional credits are not found – there is no applicable fee!!
If you would like to find out more, or arrange an initial analysis of your claims please call Jake, Dean Bailey, Dean Kumnick, Peter, John or Liz on 08 8334 2100.