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The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MOREFederal budget tipped to bring extra ATO funding, compliance activities
A standard deduction for work-related deductions is unlikely to materialise in an election year but taxpayers should expect additional ATO funding in light of the Commissioner’s recent warnings around rental deductions.
While calls for standard deductions for work-related expenses have been around since the Henry Tax Review recommended it in 2010, and more recently during a House of Representatives Standing Committee on Tax and Revenue inquiry, CPA Australia’s general manager of external affairs Paul Drum believes the government will unlikely consider it during next week’s federal budget.
Read more at the Accountants Daily.
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