Businesses can claim fuel tax credits for fuel in, machinery, plant, equipment, and in heavy vehicles and light vehicles travelling off public roads. Smartrak’s Prism fuel tax credit solution uses industry-leading forensic analytics and proprietary datasets to calculate the most accurate claim possible to submit to the Australian Taxation Office (ATO). Where applicable, this also provides data on other activities which may be claimable; such as ancillary equipment or activities.
Here are four reasons why you should use Smartrak’s Prism:
1 – Saves you time
Smartrak’s Prism reduces your administrative burden by pulling data directly from Smartrak’s database to calculate the eligible fuel used across your fleet. No more pulling together disparate data and endless spreadsheets. Sign up and Smartrak can access your Smartrak fleet data, the rest will be sorted for you – saving you crucial time to work on other important tasks.
2 – Increased accuracy that gives you claims your entitled to
Using industry leading forensic analytics and proprietary datasets, Smartrak’s Prism is able to derive the most accurate and transparent claim for your business. A more accurate claim ensures that your organisation isn’t missing out on claiming credits that it’s entitled to, whilst providing you with the evidence to make a transparent claim.
Past performance data from customers shows that the average realised value (for light vehicles) is $1,576 of credits per vehicle, per year.
3 – Peace of mind with accurate claims
A major gap for most organisations when claiming fuel tax credits is the underestimation of claims due to the lack of evidence. As a result, many organisations underclaim their entitled rebate in fear of being unable to validate theirs with the Australian Taxation Office.
Smartrak’s Prism provides your organisation with the peace of mind to claim the most accurate and comprehensive rebate. The solution provides industry-leading accuracy, data cleaning and standardisation to ensure the rebate is evidence-based.
4 – Maximise Retrospective claims
Organisations are able to make a retrospective claim of up to four years of fuel tax credits; even if they’ve previously submitted a claim. Using Smartrak’s Prism you can review past activity to re-calculate and re-submit the fuel tax credits based off a more accurate and holistic set of considerations.
If you’d like to learn how your organisation can take advantage of Smartrak’s Prism and achieve a more accurate claim, reach out to a Smartrak expert today.