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READ MOREAccounting firm calls on ATO to get tough on expenses
One of Australia’s biggest accounting firms is calling on the government and the tax office to crack down on the number of people claiming larger than average work-related expenses in their annual tax returns.
KPMG referred to ATO data that revealed 8.6 million Australians claimed work-related expense deductions to an aggregate value of $22 billion on their tax returns, resulting in a reduction in the ATO’s tax take of between $7 billion and $10 billion.
Read the full article on My Business.
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