Beware! The ATO is on the Audit Warpath

The Holistic Accountant

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Audit activity is ramping up fast. In this crucial episode, Stuart and Mena reveal the sharp rise in ATO audits they've seen in the past few months, with more cases than in their combined careers to date. If you're a business owner, investor, or employee with deductions, this is a must-listen.

They break down the key audit hotspots the ATO is zeroing in on right now:
• Rental Properties – especially repairs vs. capital improvements and incorrectly claimed interest on mixed-use loans
• Work-Related Expenses – With the updated fixed-rate method for working from home now in full effect, comprehensive records are no longer optional
• Property & Construction – audits are targeting GST misreporting, incorrect CGT treatment, and unreported sales tied to real estate transactions

Stuart and Mena offer practical guidance on how to stay compliant, choose the best deduction methods, and avoid common traps. They also stress the importance of a proactive, holistic accountant and highlight the benefits of audit insurance.

If you want to stay off the ATO’s radar and keep your finances audit-proof, don’t miss this timely episode.

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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.