SMSF – ATO finalises its position in relation to event-based reporting
After detailed consultation with the self-managed super fund (SMSF) sector, the ATO announced today that its i
If you are claiming work-related expense deductions, you need to satisfy the following:
It’s important to remember that if you receive an allowance from your employer, it does not automatically entitle you to a deduction. You still need to show that you have spent the money and it was related to your job.
The ATO will be paying extra attention to people whose deduction claims are higher than expected, in particular: