As part of the Tax Office Compliance Program for 2008-09 they will expand coverage with a more focused cash economy strategy. Data matching is increasingly being used to detect unreported income, along with checking for inconsistencies between household and personal assets and reported income levels. Micro enterprises attempting to avoid their tax ...
Read the full article →
Each year the ATO publish their Compliance Program as a heads-up to taxpayers of what they will be focusing on and how they’ll be checking into returns. The idea behind this approach is one of ‘prevention is better than cure’. It is the nice way of letting you know that ‘You’ve been warned.’ 
It’s no surprise that work-related expenses has made the compliance list yet again with taxpayers increasingly claiming work-related expenses. In fact, at 30 June, 83% of you had made work-related expense claims on your previous tax return to the tune of $13.6 billion!
Read the full article →