The Australian Tax Office [ATO] says it will be tripling the number of audits it conducts on individuals, as it looks to close a gap of close to $9 billion in lost tax revenue.The A-T-O says the biggest problem is people falsely claiming work-related and rental property expenses.
Whether it's a simple mistake on a tax return or those deliberately cheating the system, around six per cent of individual tax claims are wrong.
The Australian Tax Office [[ATO]] has found $8.7 billion has been lost from tax revenue from individuals alone, with seven out of the ten returns audited having at least one error.
The gap from individuals has also been found to amount to more than three times the loss from large companies.
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