MANY Aussies are relying on myths to finish their tax returns, with the ATO warning they are under increasing scrutiny.
TAX time can be complex and confusing, resulting in millions of Australians missing out on claiming all the deductions they’re entitled to. Here are 20 tax claims you should think about.
TAX time is just days away, and the ATO has revealed it won’t be holding back on audits and reviews this year. Find out the mistakes you need to avoid to keep more money in your pocket.
A tax audit strikes fear into the heart of almost every Australian taxpayers. As the ATO uses technology to spot dodgy claims, this is how to avoid making a costly error.
EMPLOYEES are getting themselves into hot water with the Australian Taxation Office by over-claiming deductions for work-related expenses.
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comments-rhsLatest Comments

  • "In the Business Income schedule. Note the losses can only be offset against normal income if you satisfy one of the non-commercial loss tests."

    By: Mr Taxman at Aug 12, 2020 4:39AM

    Post: Foreign currency trading

  • "By trade size"

    By: Mr Taxman at Aug 12, 2020 4:37AM

    Post: Foreign currency trading

  • "Mr Taxman, In regards to the Non Commercial Losses, when determinin gthe 20k rule is that based on your Profit/Loss for the year combined or is it actually turnover from the size of your trades eg..."

    By: Greg Croot at Aug 10, 2020 12:52PM

    Post: Foreign currency trading

  • "Hello Taxman! I invested in BTCUSD trading using MT4 trading platform using a broker in HongKong. I am a Australian resident for tax purposes. I used to trade only 2-3 times a month. I made profilts..."

    By: Santosh at Aug 09, 2020 4:05AM

    Post: Foreign currency trading

  • "Hi Mrtax I’m a sole trader with an ABN, I work for myself as a Nanny. Would my home be considered my place of Business/work, where I then travel to my clients home to care for the..."

    By: Jessica at Aug 07, 2020 11:41PM

    Post: Claiming car expenses