A trio of trip-wires businesses should avoid, says ATO

Businesses should be alert to three potential tax return trip-wires that could run it up against ATO compliance this year, Assistant Commissioner Andrew Watson said.

by | Aug 29, 2022

A trio of trip-wires businesses should avoid, says ATO
Speaking on this week’s Accountants Daily podcast, Mr Watson said the office was focusing on three areas when it came to business claims. The first centred on a trend reinforced by work from home during the two years of the pandemic.

“It’s been around for a while as an issue, but probably as we’ve all experienced over the last few years, some of the lines between work and home have blurred as we’ve gone into lockdowns and many business owners – they might have business premises – but have done more work out of home,” he said.

“Just make sure that apportionment is happening and you’re not just claiming business expenses that include an element of private expense.”

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