The ATO has developed work-related expenses risk profiles tonhelp it identify how work-related expense deduction amounts compare for similarntaxpayers. The ATO said improvements in data analytics and modelling havenallowed it to create a risk profile for tax agents’ practices based on comparingntheir clients’ work-related expenses claims with those made by similarntaxpayers.
The ATO has said it will share these risk profiles with somentax professionals where their clients’ claims appear higher than expected.
nImportant: Clients should not act solely on the basis of the material contained in Update. Items herein are general comments only and do not constitute or convey advice per se. Also, changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of the areas. This update is issued as a helpful guide to clients and for their private information.