All of the latest tax news, views and clues for July 2024.
This Alert addresses:
- Tax time scams – Using unsolicited contact via SMS, email or on social media, ATO impersonators frequently offer refunds or assistance in resolving tax issues or suggest suspicious activity on a taxpayer’s account. Stay on guard!
- Tax time 2024: claiming working from home expenses – Claiming work-related expenses is an area where taxpayers frequently make mistakes, and the ATO has flagged it a primary area of focus for tax time 2024.
- ATO focuses on rental property owners’ tax returns – ATO data shows the majority of rental property owners are continuing to get information in their income tax returns wrong, even with most using a registered tax agent to complete their tax returns.
- Tax time reminders for small businesses from the ATO – The ATO has reminded small businesses of a number of areas they should be thinking about in the lead-up to preparing their tax return.
- Scam alert: fake ASIC branding on social media – ASIC reminds consumers that it does not endorse or promote investment training or platforms, doesn’t cold call consumers, and is not associated with any investment offerings.