ATO changes labelling on tax affairs deductions
Greater clarity over the breakdown of the cost of managing tax affairs will soon be available as the Tax Office implements a change to the deduction label ahead of tax time.
The ATO has implemented a change to split the deduction label D10 “Cost of managing tax affairs” into three components: interest charged by the ATO, litigation costs and other expenses incurred in managing tax affairs.
Read more at MyBusiness.
