The introduction of a single fuel tax credit (FTC) system on 1 July 2006 is the most significant change for businesses that consume large quantities of fuel since the introduction of the Diesel Fuel Rebate Scheme in 1982.
The system will impact the energy and mining sector, road transport, and the new eligible category of power generation.
There is little time for businesses to prepare, and it is estimated that between 200-300 companies that claim in excess of $3 million a year in fuel rebates will be further impacted by the Australian Greenhouse Office requirements under the Fuel tax system. Companies need to take action immediately to prepare for the changes and ensure they are compliant and eligible.
PricewaterhouseCoopers is the first in the marketplace with an in-depth level of detail and knowledge of the changes through our attendance on the Australian Taxation Office’s (ATO) Fuel Schemes Advisory Forum.
| Client quote |
"At Works Infrastructure we have to properly communicate requirements of the new fuel tax credit and ensure our systems and people are able to transition to the new scheme. We need to get this right and we need to this right first time.
This is what we have engaged PricewaterhouseCoopers to help us with.”
Steven Roberts
Chief Accountant
Works Infrastructure Pty Ltd (A division of Downer EDI) |
How PwC can help you
- Apply market leading experience of the FTC program gained through close involvement in the government’s consultation program
- Translation of this experience into:
- Maximising of benefits to our clients
- Commercial focus
- A national team each with deep technical/industry knowledge
- Design a sustainable business systems response to enable maximum benefits
- A market tested approach with delivers business improvements and $$ advantage
