ATO AIMS AT CRYPTO TRADERS

PROPERTY investors and cryptocurrency traders are among key targets for the Australian Taxation Office in 2022.

The ATO is also cracking down on poor record-keeping, and closely watching work-related expenses as employees continue to split their hours between home and office.

“Some people have changed to a hybrid-working environment since the start of the pandemic, which saw one in three Aussies claiming working-from-home expenses in their tax return last year,” said ATO assistant commissioner Tim Loh.

“If you have continued to work from home, we would expect to see a corresponding reduction in car, clothing and other work-related expenses such as parking and tolls.”

Mr Loh said people could only claim the work-related proportion for items that were also used privately.