Tax Warnings for Individuals and Small Businesses
ATO cracks down on individuals, small businesses The ATO is making it a priority to investigate individuals who make excessive claims and erroneous tax deductions. The ATO is keen to reduce the ‘tax gap’, the difference between how much the ATO collects and how much it should if all taxpayers complied with the law. With tax time fast approaching, it is important to know what can or cannot be claimed. Deductions are only allowable if the expense has been paid for and not reimb