It’s important to get your tax return right, so it's helpful to be aware of these 5 common mistakes in case you make and need to fix them:
not reporting all assessable income (including applicable government payments)
claiming expenses that aren’t deductible
claiming the private portion of an expense as a business deduction
incorrectly reporting losses
not using proper business records to substantiate claims
If you have made a mistake what should you do?
Check with your tax advisor
Contact myGov
Don’t worry, mistakes can be made but as long as you are proactive in fixing them you’ll stay in the ATO’s good books.