16/10/2026
📢 ATO focus on omitted income, expenses and GST credits
🔍 They are stepping up compliance action against businesses that omit income, over-claim deductions or GST credits, or use business funds for private expenses.
⚠️ Common mistakes include failing to report cash sales, claiming private expenses and keeping inaccurate records.
📊 In 2025–26, audits uncovered more than $210 million in unpaid taxes, with over $50 million in penalties issued for deliberate under-reporting.
✅ How to stay compliant: 💰 Report all business income, including cash sales. 🧾 Claim only eligible deductions and GST credits. 🏦 Keep business and personal finances separate. 📁 Maintain accurate records.
💡 Need help? Explore small business resources or speak with a registered tax practitioner.
Read more: https://zurl.co/ATOonOmissions