Here are some critical information in regards to ATO'S 2020 Audit Individual Hot Spots
1.ATO and Tax Practitioners Board audit assault on work-related expenses
1.1 Tax Practitioners Board (‘TPB’) targets tax agents who overclaim work-related expenses for clients
1.2 ATO releases NEW ruling on when an employee can claim work-related expenses – TR 2020/1
1.3 Tribunal scrutinises another taxpayer’s work-related expense claims – Reid v FC of T
1.4 ATO audit dangers with claiming car expenses for a car under the log book method
1.5 Audit dangers with travel allowance expense claims at Item D2 of the ‘I’ return
1.6 ATO crackdown on claiming expenses for vehicles that do not qualify as ‘cars’ – ‘work horse’ vehicles
2. ATO ‘ramps up’ its scrutiny of rental properties following a 90% adjustment rate
2.1 NTAA rental property questionnaire mitigates the risk of errors for rental properties
3. Recent developments create new audit traps for home-based businesses
3.1 ATO guidelines for claiming occupancy costs for a home-based business operated through a company or trust
3.2 New dangers with applying the CGT SBCs in respect of a home that is also used for business
4. ATO increases its scrutiny over Uber and other ride-sourcing drivers through data matching
4.1 What are the key income tax obligations for ride-sourcing (e.g., Uber) drivers?
4.2 Completing the key labels of the 2020 ‘I’ return for ride-sourcing (e.g., Uber) drivers
4.3 What are the key GST obligations for ride-sourcing (e.g., Uber) drivers?
Source: NTAA