Being sneaky or slack with your tax return is bad at the best of times, but this year, you’re more likely than ever to get caught. It’s not worth it!
Financial experts say the Government is trying to boost income tax revenue by focusing more heavily on dodgy tax claims.
Millions of extra dollars are being spent on ATO technology that matches people’s tax returns with data sourced from banks, investments, real estate transactions and other institutions.
Apparently the ATO expects to match 640 million credit and debit card transactions taken directly for the banks from 2014.
Source: Daily Telegraph article 13.01.14