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The ATOnhas reminded individuals to make sure they get their deductions right this taxntime. Assistant Commissioner Graham Whyte said the ATO has seen “claims for carnexpenses where logbooks have been made up and claims for self-educationnexpenses where invoices were supplied for conferences that the taxpayer nevernattended”.
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MrnWhyte said that in 2014–2015 the ATO conducted around 450,000 reviews andnaudits of individual taxpayers, leading to revenue adjustments of over $1.1 billionnin income tax. Mr Whyte said “every tax return is scrutinised”, and if a rednflag is raised and the claims seem unusual, the ATO will check them with the taxpayer’snemployer. In addition, Mr Whyte reminded taxpayers that this year the ATO hasnintroduced “real-time checks of deductions for tax returns completed online”.
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Pleasencontact our office for further information.
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Important: Clients should not act solely on the basis of the material contained in Update. Items herein are general comments only and do not constitute or convey advice per se. Also, changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of the areas. This update is issued as a helpful guide to clients and for their private information.