The ATO has warned taxpayers to be vigilant on a range of claims that they will be paying greater attention to during tax time. These claims include work-related expenses, cryptocurrency gains and rental income and deductions. The ATO has stated the areas in high focus are where most mistakes are made…
The media release outlined that the ATO has sent more than 80,000 awareness letters regarding outstanding debt. This gives some context to the recommencement of ATO debt collection activities. The ATO’s collection activities were publicly acknowledged in a Senate Economics committee meeting in February 2022.
The ATO is encouraging businesses to take precautions and review their cyber security measures in the wake of increased technological adaption and reports of scams and breaches.