There’s news about Fuel Tax Credits, Inland Rail, Bad payers and Melbourne’s Missing Link on the Diesel website this week.
The Victorian Transport Association (VTA) has welcomed a $100 million funding allocation from the Victorian Government in its forthcoming State Budget for design, planning and pre-construction works associated with the North East Link.
“It is encouraging to see some serious funding being allocated to this vital infrastructure project, following the welcome commitment from the Victorian Government in December to build the North East Link, and its subsequent establishment of the North East Link Authority (NELA),” said Peter Anderson, VTA CEO.
“With or without a tunnel, Melbourne and the freight industry desperately need the North East Link, however we were encouraged that the Authority is considering a range of routing options, and that they understand the restrictions tunnels present for placarded dangerous goods vehicles.”
Extended payment times are a growing problem for small trucking businesses and must be fixed, according to Geoff Crouch, Australian Trucking Association Chair. He made the comments following the release of the Australian Small Business and Family Enterprise Ombudsman’s Final Report into Payment Times and Practices. The ATA made a detailed submission to its inquiry.
“The ATA has been calling for extended payment times to be fixed and now the small business ombudsman has backed the need for the Government to act. In the trucking industry, some big business customers are demanding payment terms of up to 120 days,” said Crouch. “The report recommends that industry codes should include best payment practices, including set payment times. In the 2016 election campaign, the ATA called for a mandatory code covering payment terms for small trucking businesses and related issues.”
Inland Rail Progress
The Australian Logistics Council has welcomed the Federal Government’s announcement of two new railway bridges to be constructed in regional NSW, along the route of the Inland Rail project.
“This announcement is further evidence that we are making progress in the construction of Inland Rail,” said Michael Kilgariff, ALC Managing Director. “Confirmation that two new bridges are to be constructed between Parkes and Narromine shows that the Federal Government is essentially future-proofing sections of existing rail track to accommodate the larger trains the Inland Rail line will facilitate.”
“Replacing timber bridges at Tomingley West and Narwonah with reinforced concrete structures is an important step in making certain existing rail infrastructure will support the delivery of Inland Rail,” he said.
Claiming fuel tax credits
Fuel tax credit rates change regularly and last increased on 1 February 2017, in line with excise duty rate changes. It’s important to check your eligibility and use the latest rates to claim the full amount you are entitled to.
Use these three tips from the Australian Taxation Office (ATO) to avoid common mistakes made when claiming fuel tax credits.
1. Use simplified fuel tax credits.
If you claim less than $10,000 a year in fuel tax credits you can choose to use simpler ways to keep records and work out your claim. See simplified fuel tax credits to find out more.
2. Use the right rate.
Rates change regularly and differ depending on the activity the fuel is used for. To work out the correct fuel tax credit amount to report on your BAS, use the ATO’s quick and easy to use
fuel tax credit calculator. You can also use the ATO’s fuel tax credit rates table, which is now easier to read.
3. Use the eligibility tool.
To work out if you’re eligible to claim fuel tax credits for fuel you acquire and use in your business, use the ATO’s eligibility tool.