Tax time warning as ATO cracks down on common ‘mistakes’You might be surprised by what you can't claim when you file your tax return.3 min read

7NEWS06-10

The Australian Taxation Office (ATO) is urging Australians to get their tax claims right as tax time approaches, warning of a growing number of people incorrectly claiming personal expenses as work-...

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Credit: AAPWorkers in the sporting industry who spend time outdoors may be able to claim sun protection items like sunscreen, hats and sunglasses, while hairdressers can claim scissors and other tools they use.Be the first to know: Add 7NEWS as your preferred news source on GoogleChallen outlined three golden rules for claiming deductions: workers must have paid for the item themselves without reimbursement from their employer, the expense must have a direct connection to earning income, and receipts must be kept as proof.When it comes to subscriptions like streaming services or premium networking platforms like LinkedIn, most workers won’t be able to claim them.The exception would be if someone’s job specifically required them to use these services, such as reviewing movies for payment.“The important thing with that is if you’re then using it on the weekend to watch movies with friends, you do need to apportion for those personal expenses,” Challen said.The ATO recommends workers check the verified guides on their website or seek advice from a registered tax professional to ensure they’re claiming correctly.Tax fraud still expected to spikePrincipal Lawyer at Astor Legal, Avinash Singh, said reports of tax fraud will only continue to spike with the end of financial year less than a month away.Tax fraud is most significant during End of Financial Year (EOFY), ranging from individual to small business offences, he said.“The largest part of tax fraud comes from over-claiming deductions. There are also a number of small businesses who regularly underreport income, particularly cash transactions,” Singh said.According to Singh, individuals or small businesses commonly run into legal issues when they illegally reduce their tax liabilities claiming certain personal use expenses as business-related deduction.ATO warns Aussies against claiming personal expenses as tax deductions. Credit: Getty Images“Many small businesses will attempt to reduce their assessable income or increase their deductions so that they fall into a lower tax bracket. Individuals also tend to try to use deductions as a way of reducing their assessable income,” he said.“The most common mistakes people can avoid making to stay compliant this EOFY is ensuring they have receipts for any purchases being claimed as deductions and having evidence that those items are genuine deductions.“If the ATO commences an investigation, it asks the taxpayer to justify their deductions. If there are no receipts or evidence that a deduction was a genuine business expense, then this could result in fines or even a criminal prosecution.”Singh warned that the ATO has become more aggressive and sophisticated in detecting tax fraud, and if an error is found, legal adivce should be sought early.“People should seek advice from a criminal defence lawyer with experience in tax fraud to ensure the error is corrected in a manner that does not expose you to penalties or prosecution.”Who’s the couple behind $40 million donation to FightMND?2 min readHow a doctor turned Aussie apples into a multi-million-dollar business4 min read","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2642414581","isCrawlerRequest":true}