ATO priorities this tax time

 The ATO has announced four key areas that it will be focusing on for Tax Time 2022:

Record-keeping.

Work-related expenses.

Rental property income and deductions.

Capital gains from crypto assets, property, and shares.

Before claiming income tax deductions for their expenses, taxpayers must ensure:

they spent the money themselves and were not reimbursed;

if an expense is for both income-producing and private use, only the portion relating to producing income is claimed; and

they have a record to prove it. 

If you have any questions or would like to speak to one of our professional business and tax advisors, please contact our office on (08) 9392 7600 to make a booking or click here.

With three offices across Western Australia and over 20 years of experience, Muntz Partners is a dynamic team of highly trained and skilled individuals committed to providing innovative and effective advice, excellent service and maintaining only the highest standards in ethical professional practice.

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