Home Latest News Australia Targets Work Expenses, Crypto on Tax Returns – Bloomberg Tax

Australia Targets Work Expenses, Crypto on Tax Returns – Bloomberg Tax

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By James Munson
The Australian Tax Office is taking a closer look at recurring problem areas on annual returns, such as work-from-home expenses and cryptocurrency transactions, in the current tax season.
One-in-three Australians claimed home expenses last year while moving to hybrid working environments because of the pandemic. The office is expecting to see a corresponding drop in work-related expenses like clothes, cars, and parking, assistant commissioner Tim Loh said in a statement Monday.
“If your working arrangements have changed, don’t just copy and paste your prior year’s claims,” Loh said.
A taxpayer can only claim the work portion of an …
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He is currently Editor at Inferse.com. He is a political columnist for the Finger Lakes Times, Eiram.org, and is the co-founder of InFocus.co. His passions include politics, golf, the media, and gadgets.