The ATO have released their audit hot spots for 2014, which interestingly has a different slant to normal. You can read the full detail of the compliance program on the ATO website, but it is rather long!
However, as far as individuals are concerned, Instead of targeting particular occupations, this year the ATO will be targeting particular deductions.
High on the list are overnight travel allowances, claiming for transporting bulky equipment and claiming work proportions of mobile phones, computer equipment and other electronic devices.
Check out this ATO media release for further details.
It is most important that you are aware that in an audit you are assumed guilty unless you can prove your innocence. Perhaps unfair but unfortunately true.
Therefore keep all receipts, and proof of expenditure such as credit card statements. Blindingly obvious perhaps, but if you have not spent it, you can’t claim it!
Finally, make sure you can justify the proportion of costs you are claiming as business related.
Any questions please call:
Lindsay 0413 952 180