Taxpayers that are over-claiming work-related expenses (e.g. vehicle, travel, clothing, working from home and self-education expenses) are on the ATO’s hitlist.
Although there is a myriad of issues involved when claiming work-related expenses, the main three rules are:
Applying these principles to the most common occupations claiming work related expenses:
During tax time, there is usually a sharp spike in the number of email and telephone scams doing the rounds (e.g. a fraudster, claiming to be from the ATO, may call you and request some personal information or demand payment of an outstanding tax debt).
There is currently a tax scam going around where individuals are called directly and a recording is then played threatening them that a warrant is out for their arrest (and police on the way) for outstanding tax debts. The hoax phone call further attempts to trick the individual to call a specific number to speak to an “alleged” tax agent to clear up the alleged problem.
If you receive any such suspicious phone calls, please do not provide any information. We would strongly suggest that you hang up immediately (if contacted by phone) and contact us as soon as possible so that we can bring this to the attention of the ATO. We have already been in contact with the ATO regarding this scam.
Please also be aware that your Nexia Edwards Marshall advisor can, at any time, ascertain what taxes are owed and the relevant payment date(s). If you are unsure about the amount of tax you owe, please check with your Nexia Edwards Marshall advisor before payment.
For any questions or to discuss any of the above in relation to your personal situation, please contact Grantley Stevens or your Nexia Edwards Marshall Adviser.
The material contained in this publication is for general information purposes only and does not constitute professional advice or recommendation from Nexia Edwards Marshall. Regarding any situation or circumstance, specific professional advice should be sought on any particular matter by contacting your Nexia Edwards Marshall Adviser.