Business Services Industry
ATO targets entertainment expenses.
Australasian Business Intelligence, August, 2006
Byline: Rachel Lebihan
Aug 21, 2006 (The Australian Financial Review - ABIX via COMTEX) -- Tax deductions claimed by IT professionals will come under an Australian Taxation Office (ATO) compliance review in 2006-07. IT professionals appear to submit large claims for entertainment expenses such as business lunches and sporting events. Another area of concern is the correct apportionment of expenses between business and private use. ATO has listed six occupations in which it will conduct a compliance review. It has issued 230,000 letters to members in the occupational groups concerning the review. This is the first time IT has been included in the list.
Publication Date: 22 August 2006
AUSTRALIAN TAXATION OFFICE
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