Continuing its theme of closing the tax gap of individuals for budget repair, the ATO has notified the public of the extension of an existing data-matching program on ride-sourcing.
The ATO has provided some insights to the areas it will be focusing on consisting of rental property deductions, work-related expenses, and capital gains tax.
Fewer taxpayers have raced to file an early return and the total paid out in refunds is already down by $1.7 billion.
UPDATED: This budget measure waives fines for late lodgment of income, BAS and FBT returns due during the pandemic.
The scamming industry is creative – different opening lines via telephone and emails appear daily.
Small Business tax debt is estimated at $29m plus at 30 June 2022
These changes will affect almost everyone, including families, workers, business owners and retirees.
Australia has a relatively high level of financial literacy when ranked globally. In a study of 140 economies, Australia ranked in the top 10 countries for financial literacy.
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