The tax deductions and dodgy records to be closely watched by the Australian Taxation Office this year have been unveiled.
Income tax doesn't apply for amounts earned under $18,200, and it has been that way for nearly a decade.
The value of SMSF loans has increased by about 50% in four years, up from $41 billion in 2017 to $65.8 billion in 2021.
Don’t make the mistake of leaving major tax-deductible purchases to the end of the financial year – the time to act is now, experts say.

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