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ATO Data Matching Program: HELP, VSL and/or TSL debts ⛑💼📗🖇 The ATO is conducting a data matching program for the 2019/20, 2020/21 and 2021/22 financial years. They will identify individuals with an existing Higher Education Loan Program ('HELP'), Vocational Education and Training Student Loan ('VSL') and/or Trade Support Loans ('TSL') debt who may not be meeting their registration, lodgement and/or payment obligations. This data collection is expected to involve approximately 3 million individuals each year! ... See more
DODGY CAR CLAIMS CASES 🤭🕵️♂️🚘👎 The ATO’s data analytics found a range of unsupported work-related car expenses claims in 2018, including: - A taxpayer provided a car service logbook rather than a logbook kept for calculating their work use car percentage logbook to support a claim of $4,800. The taxpayer had not undertaken any work-related car travel during the year. - A taxpayer (a retail worker) had incorrectly claimed $350 for the cost of public transport to and from work. - An office worker claimed $3,300 for 5000 kilometres of work-related travel using the cents per kilometre method. It turned out the taxpayer's claim was based on trips he made from home to work. ... See more
Great night being part of a panel for CAANZ tonight on offshoring .....great information given to all ....and yes it filled up...
ATO ‘PUTS THE BRAKES’ ON DODGY CAR CLAIMS 🚗🚖🤔❌ The ATO is making work-related car expenses a key focus again during Tax Time 2019. Assistant Commissioner Karen Foat stated “We are still concerned that some taxpayers aren’t getting the message that over-claiming will be detected and if it is deliberate, penalties will apply (…) We see taxpayers claiming for things like private trips, trips they didn’t make, and car expenses their employer paid for or reimbursed them for.” One in five car claims are exactly at the maximum limit that doesn’t require receipts! Where the ATO identifies questionable claims, they will contact taxpayers - some cases the ATO may even contact EMPLOYERS to confirm work-related travel details. ... See more
Private Health Insurance Statements - Now Optional 🚑🏨❗️ Taxpayers with private health insurance! You need to be aware that insurance providers are no longer required to provide statements to their members. If you are lodging your tax returns using a registered tax agent – you should have your health insurance details pre-filled into your return (but you will need to contact your health insurer if you cannot get this information). ... See more