Many businesses continue to overlook Power Take Off (PTO) usage, and the available fuel tax refunds in Ontario. Fuel tax is where the Ontario Government gets the funding to do road repairs. You might be entitled to a tax refund if your company owns power take-off equipment.
Here is a partial list of the PTO equipment that might be eligible for the fuel tax refund:
Please visit http://www.fin.gov.on.ca/en/refund/pto/ for more information.
Companies that utilize a portion of their fuel to power auxiliary power take-off (PTO) equipment, maybe able to obtain a provincial tax refund. Here is how the Motor Fuels and Tobacco Tax branch of the Ministry of Finance defines auxiliary PTO equipment as the following:
Ministry of Finance criteria must be met, in order to obtain a refund:
You are required to provide documentation to support your refund claim. The Ministry of Finance application refund form requires various pieces of information on each vehicle: the vehicle identification number, license plate, vehicle make and model, PTO unit make and model and the number of litres of fuel consumed in the operation of the PTO equipment for each vehicle the refund is being calculated for.
You can contact the Ministry of Finance if you do not have the data to determine the total litres of fuel subject to refund. The Ministry of Finance maybe able to help you determine fuel consumption for your vehicles, including dump trucks, utility vehicles, garbage trucks and many more.
Please visit http://www.fin.gov.on.ca/en/refund/pto/ and http://www.fin.gov.on.ca/en/guides/ft/3202.html for more information.
Please connect with us to find out more about how we can help you tract and claim this expense.