Everyone wants to minimise their taxation, but if errors are made in your tax return, its increasingly likely that they will be identified. Martin Rush highlights two areas to be mindful of this financial year.
The Australian Taxation Office (ATO) is using increasingly sophisticated techniques to identify taxpayers whose tax return disclosures do not match other data the ATO holds. Every year, they identify areas within the tax system to target. This year the focus will be on work-related expenses and online transactions.
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