ATO Finds Common Areas That Cause Concern For SMSF Trustees Are you the trustee of one of the approximately 577,000 SMSFs in Australia at the moment? As the SMSF sector continues to grow and the number of funds continues to increase, the workload of the ATO as the regulator increases. Instead of the rigid enforcement…
It’s tax time again! As you gather your receipts and other assorted tax documents, you should also turn your mind to what the ATO is paying close attention to this year. This year, the ATO is focusing on taxpayers who claim “other” work-related expense deductions at label D5 on individual tax returns. According to the…
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