Your car could trigger an ATO review
Vehicle-related expenses and even the make and model of the car you drive can attract extra scrutiny from the ATO, an accountant has warned, citing the example of a manufacturing business.
Speaking on the My Business Podcast, Alexander Laureti of LMS Advisory revealed that a manufacturing business had its fringe benefits tax (FBT) history reviewed by the Tax Office because of a BMW.
Read more at MyBusiness.
