by Financially Sorted | Jul 28, 2025 | ATO, Small Business, Tax & Accounting, Tax Returns
For individuals such as property investors and small business owners the possibility of undergoing a tax audit from the Australian Taxation Office (ATO) is a legitimate concern. Audits require substantial time and effort and may also incur considerable expenses as the...
by Financially Sorted | Jul 28, 2025 | ATO, Tax Returns
No-one wants to risk an audit by the Australian Tax Office (ATO). Avoid these four common mistakes to stay off the ATO radar this tax season. 1. Work-related expenses The most common mistake individuals make in preparing their tax, is incorrectly claiming work related...
by Financially Sorted | Jul 28, 2025 | ATO, Tax Returns
With tax time, comes a rise in opportunistic ATO impersonation scams. The Australian Taxation Office (ATO) has issued a warning regarding a significant increase in scam activities during this period. While scams generally do tend to rise at this time of year, the ATO...
by Financially Sorted | Jun 30, 2025 | ATO, EOFY, Tax Returns
Reduce your tax exposure. Maximise opportunities. Reduce your risk of audit. With the end of the financial year fast approaching, this update will help you with these end of financial year goals. What’s new 1. Medicare levy low-income threshold The Medicare levy...
by Financially Sorted | Jun 11, 2025 | ATO, EOFY, Tax & Accounting, Tax Returns
One of the most-claimed work-related expenses each year is a working from home deduction, especially in the last few years. In 2024, more than 10 million people claimed a work-related deduction, and many of those claimed a deduction related to working from home. As...
by Financially Sorted | Jun 11, 2025 | ATO, Business, EOFY, Small Business, Tax & Accounting, Tax Returns
Year-end Tax Planning Opportunities & Risks for Individuals & Businesses With the end of the financial year fast approaching, we outline some opportunities to maximise your deductions and give you the low down on areas at risk of increased ATO scrutiny. For...
