It's a reminder the ATO has a number of areas and Taxpayers in its focus this year! 

60.jpg

 Included in their sights using a new data-matching protocol and cross checking system are; 

  • work related expenses,
  • rental investment property deductions,
  • private use of Business assets,
  • cyptocurrency activities,  
  • ‘side gig’, second incomes gained, such as ‘influencers’.

 Importantly don’t blur your deductions when making your claims!  

Follow these 5 simple Steps to get the best, clearest and correct picture: 

  1. Keep accurate records, logbooks and diaries
  1. Claim only work-related expenses, don’t mix private and company  
  1. Adopt the revised fixed rate of 67cents per hour working from home
  1. Know and understand your obligations
  1. Contact Blackburn Accounting if you have questions or need professional advice