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ATO Publishes FTC Manager Product Ruling

FTC Manager the first in Australia to receive ATO Product Ruling to protect fleet managers from overclaiming fuel tax credits.

FTC Manager is a unique solution for businesses claiming fuel tax credits. Unlike other GPS-based FTC calculation systems, it operates exclusively using second-by-second high-definition GPS location data produced by hardware which is hardwired into customer vehicles. This ensures maximum accuracy when apportioning between fuel usage off public roads or in auxiliary equipment (higher FTC rate), and fuel usage in heavy vehicles for travelling on public roads (lower FTC rate).

Product Ruling 2021/2 confirms that the FTC apportionment methodologies used by FTC Manager are “fair and reasonable” for the purposes of the FTC law. This is supported by a second ATO ruling, Class Ruling 2021/30, which confirms that the reports from FTC Manager are able to be used as records for making FTC claims.

See Press Release from 5 May 2021 Here

See more information about FTC Manager Here

 

The Commissioner of Taxation (Commissioner) does not sanction, endorse or guarantee this product. Further, the Commissioner gives no assurance that the product is commercially viable, that charges are reasonable, appropriate or represent industry norms, or that projected returns will be achieved or are reasonably based.  Potential participants must form their own view about the commercial and financial viability of the product. The Commissioner recommends you consult an independent financial (or other) adviser for such information.

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