For the first time in two decades there are early signs the ATO's work expense deductions campaign is starting to bear fruit.
Our expert explores the pros and cons of buying an affordable property now or saving for a larger deposit for a more expensive property in the future.
Community perceptions about the ATO took a hit,as its reputation suffered amid IT outages and complaints about its treatment of small business taxpayers.
Behavioural economics is a low-cost approach to getting people to pay more tax. It is having a positive impact on work-related expense deductions and tax debts.
The Tax Office thinks there is $8.7 billion a year revenue missing because individuals over-claim on their tax returns. Is it right?
Many Australians miss out on hundreds of dollars each year because they’ve lost the receipt for work-related deductions they can claim back.
Even without all the nitty-gritty of legislation,there are plenty of ways that you can negatively affect your tax return.
Before you start waving your credit card in the air like you just don’t care,remember you’ll only get back a fraction of the money you spend on work expenses.
But it did not go as far as suggesting the Turnbull government’s proposal to cut the corporate tax rate for large companies would have the same impact.
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The most common myth that leads to errors being made at tax time is that people think they are entitled to automatic or standard tax deductions,the ATO says.