Most of us by now would already have got their group certificate or the PAYG summary and are eager to find an experienced and professional tax accountant to help them to maximize their tax refund back.At EndureGo, as one of the most experienced and professional tax agent, we are here to help you to reduce your audit risk from Australian Taxation Office, while maximizing your tax refund.
However, it is important to remember that this year, ATO has heightened its auditing focus toward the individual tax return, and the deductible work related expense.
The areas of focus for this year from the Australian Taxation Office would be on
- Vehicle Expense, whether the taxpayer had kept the correct logbook, or if using the cents per kilometer method, whether the tax payer has the correct car diary evidence.
- Uniform expense including laundry. ATO’s view is that they felt a lot of people are abusing the laundry expense, as if the laundry expense is below $150, you do not need to substantiate with invoice evidence, however, you still need to demonstrate how you work it out via a diary as to how often you wash it and in what form did you wash it, whether it is by itself or mix with others.
- Telephone, Internet expenses, whether it has the diary to support the work related percentage. It is important to note that without a property diary, ATO might disallow the deduction for the telephone and internet expenses.
- Travel expenses, whether it is been approved by the employer, and whether it has a travel diary to support the work related percentage.
ATO has an internal database, which they use to benchmark the each claimed deductible expense against controlled variables which include age, occupation, and even location.
For example, a construction worker of 36 years old, and whose earning is $80,000 might have an average vehicle expense of $2000, however, another construction worker in similar age bracket, and earning is around $50,000 might have average vehicle expense different to the first one.
Hence, at EndureGo Tax, as one of the most professional and experienced tax accountant, we will help you to legally maximize all of your deductible work related expense, but at the same time, we will use our state of the art tax software and compare your deductible expense with the ATO benchmark, this is to ensure that you do not get into compliance issue with ATO especially this year. Please give us a call on 0410-829-900