How tech can bring money back into your business
Australian operators are faced with a balancing act every day.
With staff managing vehicles and drivers spread across the country - sometimes in the most remote areas - meeting strict deadlines and dealing with increasing administrative costs are all part of the job.
One of these areas that must be managed is fuel tax credits.
It can be difficult to pinpoint how much fuel you've used on and off the road, during idle times or for auxiliary use, like powering an on-board refrigeration unit. Many businesses underestimate their fuel use to avoid audits and paying big penalties.
Thankfully, GPS-based transport management technologies make it easy for businesses to manage claims. In these uneasy financial times, every dollar counts as contracts become more competitive. Using telematics to maximise fuel tax claims not only saves hours of time and admin costs, but brings more money back into your business.
Highly accurate data
Teletrac Navman's FTC Manager uses second-by-second GPS location data to automatically apportion on-and-off-road travel accurately.
Instead of using algorithms to estimate fuel use between timed GPS updates, the solution's real-time data automatically calculates fuel tax claims to maximise entitlements and ensure you're accurately claiming back as much as possible.
The same GPS data used to manage your fleet electronically is used to apportion on-and-off-road use, eliminating the need to manually input travel data or integrate with other systems. This not only increases your fuel tax claims but helps to cut back on unnecessary admin costs spent entering data into systems.
The GPS data captures all your travel, be it on public roads or off the beaten track.
If you need to drive on non-public roads to reach a job site, or if you're driving between points at a large construction site, the solution will automatically capture that distance to calculate exactly how much fuel has been used and what to apportion.
FTC Manager allows you to set up bounds of areas that are considered off-road, such as road works or project sites.
You can also measure hours of use for up to six different items of auxiliary equipment including on-board compactors and refrigeration units.
Having access to highly accurate data not only maximises your claims but with two-ATO class-rulings, the system ensures that you're compliant and receiving the maximum entitled refund.
FTC Manager pairs the second-by-second vehicle movements with fuel tax credit advisory services, offering the best of both worlds.
Teletrac Navman's partnership with PPM Tax Group means you'll have access to experienced FTC specialists with a proven track record of delivering millions of dollars' worth of savings. PPM's team can even complete a four-year retrospective refund review, allowing you to claim back even more on fuel use from the past four years, even if you've submitted fuel tax claims in that period.
Best of all, because all your fleet's valuable information about fuel usage is accessible via an easy-to-use platform, there's no need to export data between programs for any advisory services.
This reduces the risk of sensitive data entering the wrong hands, and slashes admin costs while ensuring you get the most out of your claims.
Allan Every, Group Systems and Processes Manager at McGregor Gourlay, implemented FTC Manager to boost efficiency and reducing reporting costs.
By automatically calculating FTC rebates based on fuel use during a specific time, McGregor Gourlay maximised the amount of money coming back into the business.
"FTC Manager has been great for us as a company, allowing us to be sure that we're fully compliant with Australian Tax Office rules and regulations," said Mr Every.
"We know we're claiming exactly what we should be rather than relying on an estimation - not a cent less, and not a cent more. The solution has allowed us to recoup a proportion of our costs when it comes to fuel usage by providing an exact figure."
By streamlining the collection of real-time data, minimising administrative costs and reducing potential tax risks, FTC Manager ensures you're staying compliant while maximising your refund to reinvest back into your business.