By Andrea Bradley
Are you aware of the recent FTC rate change for Truck and Bus Operators?
The ATO has amended the guidance in relation to Fuel Tax Credit claims which involve businesses acquiring fuel for incidental use in a vehicle travelling on a public road. This specifically applies to fuel used to power the cabin air conditioning in trucks and buses.
The ATO has removed the ability to claim the higher Fuel Tax Credit rate for fuel used to power air conditioning in trucks and buses. Therefore, the Fuel Tax Credit rate that applies to heavy vehicles on public roads is to be used for all fuel acquired from 1 November 2019.
If you require assistance in working out your Fuel Tax Credits or want to know more about how these changes may affect your business, please contact your WDF Professional team member.