Claim on gas increase
Farmers could get anything from $500 to $1500 per year back in tax rebates on any petrol used for commercial use which was not on the road, CooperAitken accountants associate Coral Phillips says. This included the recent 3 cent rise of the 66 cents per litre that the government received in taxes from petrol.
‘‘Our farmers use a lot of petrol in quad bikes and two- wheelers which never go on the road,’’ she said. ‘‘Petrol in machinery such as chainsaws, generators and the old Fergy tractor can also qualify.’’
Other businesses can make similar claims such as for lawn mowers used on golf courses. ‘‘It can be surprising how much fuel is actually used in motorbikes during a year, and how much the quarterly rebate actually amounts to.’’
The application needed to be made to the NZ Transport Agency on the MR70 form which was accessible on their website www.nzta.govt.nz. Applications were made quarterly although they can be backdated two years resulting in a 10 per cent penalty.
Copies of invoices to show proof of purchase are required, along with a summary of the vehicles which use the fuel.
The tax on petrol which is called ‘‘Fuel Excise Duty’’ is a charge to users to help contribute to our roading infrastructure costs in New Zealand.
Some of the 66 cents charges.