In this episode of The Australian Finance Podcast, Owen Rask is joined by Rob Thomson from the Australian Tax Office (ATO) to help you tackle tax time in 2025. Rob shares the ATO’s focus areas, common tax myths, and practical steps for getting your return right the first time. Topics include:
- The ATO’s “grand final” season: why tax time is so important
- The top 3 areas people get wrong on their tax return
- The 3 golden rules for claiming deductions
- How to avoid ATO scrutiny (and a nasty reassessment)
If you liked this episode on preparing for tax time, make sure to subscribe on Apple, Spotify, YouTube, or wherever you listen to great podcasts.
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Topics Covered
- Why tax time matters to the ATO
- The ATO’s three key focus areas for 2025:
- Work-related deductions
- Working from home expenses
- Omitted income (side hustles, ride share, etc.)
- What is the “tax gap” and why it matters
- The three golden rules of tax deductions
- Record keeping tips that can save your bacon
- How to apportion work vs personal expenses
- Tips for claiming donations
- The ATO’s weirdest deduction attempts (Nintendo Switch?!)
