Keep in mind that you may be audited by the Tax Office
While there may be the temptation to overinflate your tax deductible expenses on your 2017/18 tax return, keep in mind that you may be audited by the Tax Office and will need to have records that substantiate your claims for up to five years after you submit your tax return.
There has been no shortage of commentary in the media recently that the ATO will be scrutinising unusually large claims for tax deductions. Don’t risk the potential fines and other penalties for deliberately providing misleading information.
Rands Financial Services can help you assess your tax deductible expenses and legally claim your entitlements. Contact us today on 0434 391 331.
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We’re heading into our busiest time of the year, so don’t delay, contact us on 0434 391 331.