The ATO has developed work-related expenses risk profiles tonhelp it identify how work-related expense deduction amounts compare for similarntaxpayers. The ATO said improvements in data analytics and modelling havenallowed it to create a risk profile for tax agents’ practices based on comparingntheir clients’ work-related expenses claims with those made by similarntaxpayers.
n
The ATO has said it will share these risk profiles with somentax professionals where their clients’ claims appear higher than expected.
n
TIP:nThe ATO’s increasing capacity to monitor the often difficult issue of work-relatednexpenses claims means taxpayers and tax professionals need to take care whennpreparing returns. Contact us if you would like to discuss which of yournwork-related expenses may be tax deductible.
n
