The New Toll Relief from 1 July 2023
We all look forward to New Years, with parties, food, and fireworks. This new financial year has plenty to offer our clients as well. One of the more interesting introductions arriving on the 1st of July is the new Toll Relief Rebate. Those eligible may find themselves claiming a refund of 40%.
Who is eligible for the New Toll Relief Rebate?
First off, eligibility is only granted to NSW residents. To be eligible, one must spend $375 or more on tolls in a financial year. One must have already paid for the tolls and accumulate the expense on one single personal toll account at a time. Personal toll account providers include E-Toll or Transurban Linkt. You must make the claim within one financial year end by which you paid the tolls.
Exclusions from the New Toll Relief Rebate
Trips taken before the 1st of July 2022 will not be eligible for this rebate. Fees for administration, number plate recognition and other charges cannot be claimed. You will not be able to claim the yearly rebate if you have already received a refund during your quarterly lodgments.
There are also specifications for eligible cars and roads. You must accumulate the toll on a privately registered vehicle under 2794 kg in weight, so no heavy vehicles. The vehicle must be registered in NSW. Please read the service NSW website to view which roads are eligible for this scheme.
Book your consultation
If you need help with your deductions, our friendly team of accountants and tax advisors in Bondi Junction would be happy to assist you. Book your appointment today. Feel welcome to our office or let’s meet online if it’s more convenient for you.