ATO – Tax Focus Areas Revealed

  1. Home
  2. /
  3. Featured
  4. /
  5. ATO – Tax Focus Areas Revealed
ATO - Tax Focus Areas Revealed

Hello Chasers,

Last week’s Federal Budget revealed that there will be greater ATO audit activity as the Government tries to fulfil its commitments and manage the ever-increasing budget deficit.

What this means for small business owners and individual taxpayers is that they can expect the ATO to be reviewing their affairs more regularly.

We have always played ‘devil’s advocate’ when reviewing some of the transactions prior to preparing BASs, financial statements and tax returns but ultimately it will be the customer who has coded them or advised us they were business expenses etc.

You can expect the ATO to be more active and aggressive as they are expected to raise over $5 billion in tax and last week’s Budget saw increased funding for the ATO to help them achieve this target.


Click here to read more …

Read more of our daily blogs in our Chasing the Dream Facebook Community

Share This

Related Posts

4 Min Read

The Bee Room

Hello Chasers, Before the change in the weather yesterday afternoon, I frantically mowed all the lawns and did some weeding before settling into the next phase of my bee-keeping adventure. In the designated area for my…
Read Full Article
4 Min Read

The Chasers Mastermind in 2023

Hello Chasers, We have been busy planning to bring an incredible opportunity to you in 2023 – The Chasers Mastermind. ‘What’s a mastermind’, I hear you say? Well, a Mastermind group helps like-minded business owners get…
Read Full Article