As many Australians begin pulling together their records for tax time, the Australian Taxation Office (ATO) is warning people to take care with the details and evidence used in your tax return.   The ATO says it will closely monitor unsubstantiated, or higher-than-expected, work-related expense tax deductions, and claims on rental properties: https://www.ato.gov.au/Individuals/Income-and-deductions/   In addition, the ATO has given notice to members who took money out of their superannuation accounts under the COVID-19 early super access scheme that they will need to have met the eligibility requirements or could face fines and prosecution: https://www.ato.gov.au/Individuals/Super/In-detail/Withdrawing-and-using-your-super/COVID-19-early-release-of-super—integrity-and-compliance/   The ATO’s has also … Continue reading Take Care This Year When Preparing Your Tax Return