ATO compliance: economic stimulus measures
Businesses that have utilised economic stimulus measures such as loss carry-back, temporary full expensing and accelerated depreciation need to take extra care this tax time. The ATO is increasing its scrutiny and will be reviewing all claims as a part of its compliance activity. It will be actively looking for signs that businesses are entering into schemes to benefit from the measures and impose penalties where necessary. All taxpayers that have used the schemes are encouraged to review their claims to ensure they are eligible, and the amount claimed is correct.
