COVID-19 PPE Related Deductions

Tax

For the 2022 financial year the ATO is allowing deductions for COVID-19 related PPE.   Generally, to claim a deduction for PPE you need to show the following: You are exposed to the risk of illness or injury in the course of carrying out your work duties The risk is not remote or negligible Given…

ATO Focus Tax Time

Tax

This tax season the ATO has announced it is targeting four key areas: Record-keeping Working from home related expenses Rental property income and deductions, and Capital gains from crypto assets, property, and shares.   The ATO has given the following guidance as how to avoid scrutiny.   Record Keeping: Make sure you have records to…