Get ready for tax time 2021
Tax time 2021 is fast approaching, with the knowledge gleaned from the recent ATO statistics release that shows individual taxpayers carrying the majority of the tax burden, it is no surprise that the ATO is keeping a close eye on individual tax returns this year. Specifically, the ATO noted it will be focusing on work-related expenses such as car and travel expenses which it reasons will decrease due to restrictions on travel. It will use data analytics to identify those taxpayers with high WFH expenses as well as car and travel expenses for further scrutiny.
