Rental property owners, gig economy workers and people trying to claim too much in work-from-home expenses will come under the Australian Taxation Office’s spotlight this year, a tax expert has revealed.
Those who hold cryptocurrencies, such as bitcoin, as an investment are likely to receive a “please explain” from the Australian Taxation Office if they fail to declare when they are sold at a profit.
The tax deductions and dodgy records to be closely watched by the Australian Taxation Office this year have been unveiled.
With CBA now offering trading of cryptocurrency, tax experts are urging Australians to learn how this will impact their tax return.
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