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Australia Targets Work Expenses, Crypto on Tax Returns

May 17, 2022, 7:08 PM

The Australian Tax Office is taking a closer look at recurring problem areas on annual returns, such as work-from-home expenses and cryptocurrency transactions, in the current tax season.

One-in-three Australians claimed home expenses last year while moving to hybrid working environments because of the pandemic. The office is expecting to see a corresponding drop in work-related expenses like clothes, cars, and parking, assistant commissioner Tim Loh said in a statement Monday.

“If your working arrangements have changed, don’t just copy and paste your prior year’s claims,” Loh said.

A taxpayer can only claim the work portion of an ...