30 Mar ATO Tax Time 2020 – Tradie Resource Kit
As many individual’s working situations may have changed due to the outbreak of COVID-19, it is more important than ever that building and construction workers understand how to best prepare and lodge their tax returns. This will help ensure you claim all applicable deductions.
As such, the ATO has launched its Tax Time 2020 campaign to help building and construction workers understand how to best prepare and lodge their tax returns.
The attached Tradie Tax Time Poster provides invaluable information on which expenses building and construction workers can and cannot claim at tax time.
In order to ensure that all claims are valid, and you are not lodging false work-related expenses, it is important that you double check which expenses are and aren’t eligible. In particular, this year the ATO will be targeting false claims regarding clothing and footwear expenses, travel expenses, and car expenses.
Advancements in technology and data analytics make it easier than ever for the ATO to identify suspicious claims, meaning that the risk is certainly not worth the reward.
In light of the current situation, the ATO will also be implementing a series of administrative measures to assist Australian businesses currently experiencing financial difficulty as a result of the Coronavirus outbreak. Please visit www.ato.gov.au/coronavirus for more information on the different relief measures available to businesses.