As tax time fast approaches, the three big ticket items in the ATO’s sights have been revealed. The Australian Taxation Office this week announced it would be cracking down on taxpayers who incorrectly claimed work-related expenses, inflated claims for rental properties and failed to include all income when lodging. These are among the most common mistakes taxpayers make — and while they are often genuine, sometimes they are deliberate, the ATO said.
” The ATO’s golden rules for claiming a work-related deduction Rental properties also remain a hot topic for the tax office, with its data revealing nine out of 10 rental property owners get their income tax returns wrong. “We often see landlords making mistakes when it comes to repairs and maintenance deductions on rental properties, so we’re keeping a close eye on this,” Thomson said.