INTHEBLACK August 2025 - Magazine - Page 38
P O D C AS T
Tax Time 2025:
Expert insights
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This special four-part With Interest series features expert commentary from
the Australian Taxation Office (ATO), as well as insights on practical strategies
for tax time 2025.
“It’s crucial if you receive a message claiming to be
from the ATO that you stop what you’re doing and
take a few seconds to check it’s really from us.”
JODA WALTER, ATO
AVOID WORK-RELATED
DEDUCTION ERRORS
“The thing that people need to remember
when they’re claiming a work-related deduction
are our three golden rules. First, you need
to have spent the money yourself and not
been reimbursed for it. Second, the expense
must directly relate to the income that you’re
earning. Third, you need to have a record,
normally in the form of a receipt.”
Rob Thompson, ATO
SUPPORT FOR SMALL BUSINESSES
“In November 2024, the ATO launched
‘Getting it right’. This is our ongoing quarterly
campaign which aims to support small
businesses to do just that — get it right from
the start. We know most small businesses try
to do the right thing, so to better support them
and their advisers, we are being transparent
about what is attracting our attention.
Each quarter we are sharing specific risk areas
we are focusing on.” Angela Allen, ATO
NAVIGATE SUCCESSION PLANNING
“Succession without planning can result
in unintended tax consequences, and we want
38 INTHEBLACK August 2025
to prevent this happening and help groups
make more informed decisions. To reduce
the risk, we encourage private groups to put
a plan in place, review it regularly, consider
the tax consequences and seek advice
from the ATO or an adviser where needed.”
Jenny Lin, ATO
STAY SAFE FROM SCAMS
“During tax time, we generally see an increase
in reports of scams. Scammers know Australians
are focused on lodging their tax return and may
be expecting refunds. This means they could
be updating their personal information.
Scammers take advantage of this and aim
to trick the community.
“Our data shows the majority of scams
are being delivered via email. Scammers
are developing extremely convincing emails
that look almost identical to the real thing
to get people to click on embedded links
or attachments and hand over their personal
information.
“It’s crucial if you receive a message claiming
to be from the ATO that you stop what you’re
doing and take a few seconds to check it’s
really from us.” Joda Walter, ATO
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