Let’s start with something that everyone wants – more money in your bank account AND giving away less money away to the Tax Man!
Fuel Tax Credits (FTCs) or diesel rebates are widely misunderstood. Most business owners we speak with say “My accountant handles that” but what is it your accountant is really handling? You send them how many litres of fuel you’ve used and they put a claim amount on your BAS.
Does your accountant know and understand what your trucks do every minute of the day? Probably not because that’s not their core job. They act on information you provide them and then they provide you with accounting and general business advice, including your BAS. If they aren’t living and breathing what you and your trucks are doing then they can’t be expected to know everything to claim.
In reality, more than 90% of transport operators aren’t claiming all of the FTCs they’re entitled to and that means you have a 9 in 10 chance that you’re giving away your money to the Tax Man!
Even if your accountant is confident they are claiming what you are due, it never hurts to get a second opinion from people who know FTCs inside out, especially when that opinion is free.
Send an email to us with the subject CHECK MY FTCs and your contact details. We’ll make an appointment and come to you, spend some time discussing your operation, and then we’ll look at your last few claims to see if there’s anything more you should be getting. You can adjust claims already made up to 4 years old. Imagine what that could mean to your cash flow??
Even if the difference was only $5,000 per quarter – over 4 years that’s an adjustment of $80,000!!
One case we handled was for a company that grew quite quickly. They believed they were claiming the correct amount and their accountant was also confident their claims were correct. The adjustment we calculated on their behalf was almost $500,000!! Do you think they were happy?
And it doesn’t stop there. Once we have analysed your business and understand everything you are entitled to claim, we will work with you into the future and ensure you always receive the maximum FTC claims.
Well?? What are you waiting for?? Whether it’s $500 or $500,000 – get your money back!!
When it comes to FTCs time really is money. Each BAS period that goes by means you lose the ability to make a claim on older rebates. Stop reading and send us an email!!