IMPORTANT INFORMATION ABOUT ATO ACTIONS FOR 2023 TAX RETURNS
I thought that I would provide some information to visitors to this website to help them understand more about what ATO is doing in relation to 2023 Tax Returns.
Click Here to listen to the Recording
Click Here to contact us if we can help you understand anything you have heard in recording, as well as anything on the website.
USEFUL TAX INFORMATION
The information presented below are descriptions of different Information & formats included the Members Area.
To access the information, a “Click here “ to become a Member.
AUDIO BASED INFORMATION ( in Audio section of members)
ATO changes for 2023 will result in LOWER REFUNDS
When most tax payers are lodging their 2023 Tax returns, they will find that the ATO changes will result in a LOWER TAX REFUND.
So, it is very important this year that they get ready before end of 2023 and when preparing their tax information for lodging the return.
This broadcast explains what to do, to make sure you get the Best refund. Click here to become a member & listen to the Broadcast
TWO KEY ATO TAX TARGETS 2023 THAT AFFECT MOST PEOPLE
The ATO has announced that they will target two areas that affect many taxpayers in 2023.
Those key areas being ‘Work From Home ” and Capital Gains Tax as applied to Crypto Trading.
It is important that people understand the ATO’s Record Keeping requirements. If not, then ATO will amend the Lodged Tax returns and people have to PAY MORE TAX
In the Broadcasts in the Members Area Radio Broadcasts section I explain about this. AND in the Documents section you will find Documentation to help with the Working from Home claim
Click here to join up as a member and hear the broadcast
ANOTHER KEY TARGET FOR 2023 , NOT AFFECTING AS MANY TAXPAYERS
Rental Properties
The ATO is targeting taxpayers with rental properties in the 2023 tax returns.
They have done this, as they are picking up in Audits a greater number of errors by taxpayers when lodging Rental Property claims to that are excessive and so incorrectly result in higher Negative gearing effects, which result in higher Refunds & Lower Tax Payables than is warranted.
The ATO says they this pattern needs to stop, and so they will embark on an extensive audit campaign to stop people doing this and they expect that the Penalties as a result.
So if you want some guidance from me as to what to do when preparing your Return, & save money, please click here to join up as a member in order to listen to my different broadcasts about rental properties
TEXT BASED INFORMATION (in Documents section of members)
- DOCUMENTS AREA: SUBSTANTION DIARY NEEDED FOR WORK FROM HOME Click Here
- IMPORTANT CHANGES: Self education, LMO tax offset, WFH (More Details in Members area only)
If there are any questions about the above information, please use our contact form on the Website.
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