Tax time in Australia is here, and the last thing you want is an unexpected ATO audit! In this video, I break down the 4 biggest mistakes that could trigger an audit and cost you thousands. Learn how to avoid common tax pitfalls and maximize your refund while staying compliant.
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💰 Capital Gains Tax (CGT) on Shares and ETFs for Beginners | Australia 2022 Tax Return https://youtu.be/2qC1bYl0A50
💰 PAYG Withholding Variation for beginners https://youtu.be/1yDbEpgQd6Y
OTHER VIDEOS
✔️ How to Enter ETF Tax Statement in MyGov Tax Return with no Pre Fill | 2022 Australian Tax Return https://youtu.be/ZmhzYaeg1iM
✔️ Why my 2022 Australian TAX REFUND was higher than normal 💰💰😄 https://youtu.be/Co8_99rR2lA
✔️ Higher WORK FROM HOME deduction in your 2022 Australian Tax Returnhttps://youtu.be/QDoESZHuhYI
✔️ Tax File Number (TFN) Declaration Form | Explained | AUSTRALIA only https://youtu.be/bRb5tcvY-JE
✔️ How to track expenses for TAXES automatically | less Excel data entry work for SMALL BUSINESS https://youtu.be/VwqSAiqMyQc
ATO LINKS
🔗 MyGov help https://login.my.gov.au/mygov/content/html/contact.html
🔗 Work from Home Expenses instructions and COVID-19: https://www.ato.gov.au/general/covid-19/support-for-individuals-and-employees/employees-working-from-home/
🔗 Carry forward unused concessional contributions https://www.ato.gov.au/individuals/super/in-detail/growing-your-super/super-contributions—too-much-can-mean-extra-tax/?page=5
🔗 Claiming deductions for personal super contributions https://www.ato.gov.au/individuals/super/in-detail/growing-your-super/claiming-deductions-for-personal-super-contributions/
Chapters
0:00 Intro
0:22 Lodged too early
1:53 Missed Capital Gains
2:39 Business income
3:34 Overclaimed tax deductions
DISCLAIMER: it is important to note that the information in this video is for general information and entertainment purposes only and is not a replacement for professional advice. Money with Dan is not a financial advisor. You should consider seeking independent legal, financial, taxation or other advice to check how the information in this video relates to your unique circumstances.
🔹 What You’ll Learn:
✅ The #1 reason taxpayers get audited
✅ How undeclared income can lead to trouble
✅ Why capital gains from shares, crypto, and property matter
✅ The risks of running a side hustle without reporting income
✅ How large tax deductions can raise red flags
💡 Pro Tips:
✔️ When is the best time to lodge your tax return?
✔️ How the ATO uses data matching to check your income
✔️ Simple ways to reduce your audit risk
📌 Watch until the end for expert insights that could save you money and keep you off the ATO’s radar!
#TaxAudit #ATO #AustraliaTax #TaxTips #AvoidAudit #TaxReturn #ATOAudit #Finance #MoneyMatters
