Laundry Expenses Hung Out to Dry

ATO crackdown on laundry expense overclaims.   The ATO is airing the ‘dirty laundry’ on work-related clothing and laundry expenses warning that it is closely reviewing claims. “Last year around 6 million people claimed work-related clothing and laundry expenses, with total claims adding up to nearly $1.8 billion. While many of these claims will be…

ATO to Audit Dodgy Rental Property Tax Deductions

The ATO has announced its focus on the scrutiny of 2019 tax returns, particularly those with rental property tax deductions. It’s fair to say that the ATO’s decision to increase audit activity of rental property deductions has come about with justification. A random sample of tax returns, which included rental property tax deductions, revealed that…

Got a HELP debt? Impending changes will speed up your repayments

The Government has moved to put an end to ‘eternal students’ who constantly study and never earn an income and speed up the payment cycle for those with outstanding debt.   New lifetime caps on Higher Education Loan Program (HELP) debt will prevent people from constantly going to University without converting that study into a…

Stay Alert for Scams & Fraud

The Australian Taxation Office (ATO) is committed to educating taxpayers on how to protect themselves against tax scams and identity theft. It says that up to the end of last financial year, $2.7 million was handed over to fraudsters, with about 2,500 individuals providing some sort of personal information to scammers, including tax file numbers.…