TECHNOLOGY MAKING IT EASIER TO TRACK FOR TAX
Written on the 19 August 2015
AN AUSTRALIAN GPS tracking solutions company has developed a new log book system which has been approved by the Australian Tax Office (ATO) as a credible means of tracking the data required for tax claims.
Securatrak developed the Soteria Electronic Logbook which automatically records travelling data including start and end time, start and end locations, distance travelled and route taken, leaving the user to assign a business or personal purpose to each journey.
When applying for the fringe benefits tax claim, users can then submit the Soteria data to the ATO as a reliable source of the travel evidence required.
"Our internal software development team has built an extremely user friendly Electronic Logbook that is not only approved by the ATO in the latest tax ruling, but it integrates seamlessly into the Geotab fleet management solution in both the Android and IOS platform," says Holmes.
"Securatrak continues to expand its internal software development team, working closely with our clients and global partners to add value and functionality to the fleet management solutions that we provide."
Running the Soteria app has previously been a costly exercise, but due to a new pricing model which allows customers to purchase the device on a rented contract, the system has become more affordable and streamlined into the market.
Eighty-seven days of data is required by the ATO when claiming the fringe tax benefit, prompting Soteria to offer rental terms of six months.
"Technology such as the Securatrak Soteria app is a convenient and accurate way to collect mileage data we require for end of financial year tax submission," says Holmes.
"This type of technology can and will benefit those who use company cars or travel at high volumes for work."