Key ATO Focus Areas For 2023

In a recent media release the ATO have announced a number of key focus areas for business and individual taxpayers for the 2023 financial year.

Key ATO Focus areas for 2023

In a recent media release the ATO have announced a number of key focus areas for business and individual taxpayers for the 2023 financial year.

We have listed these below, along with another key initiative that has continued to be a powerful tool for the ATO:

Rental Property Deductions

ATO analysis has revealed that around 90% of rental property schedules are incorrect, with either income not being declared or expenses overclaimed. They have advised all taxpayers (along with tax agents of course) to review records thoroughly to ensure appropriate claims are being made.

Work related expenses

The ATO has acknowledged the changing nature of work arrangements, and have advised the importance of ensuring work related claims accurately reflect current working arrangements. There is a focus on ensuring taxpayers understand the changes in working from home deductions and ensuring appropriate records are kept for all work related expense claims made.

Capital gains tax

Capital gains on the disposal of assets such as shares, crypto, and property continue to be an area of focus. With the ATO’s powerful data matching initiatives (more on this below) in full force the ATO Commissioner has advised to all taxpayers; ‘don’t fall into the trap thinking we won’t notice if you sell an asset for a gain and don’t declare it’.

ATO data matching – a brief insight

The ATO has continually increased its data matching regime to validate data received from various organisations and match it against their own information to identify businesses or individuals that may not be reporting all their information correctly.

The sources of third party information has now swelled to over 600 million transactions annually, including information from the following sources:

  • Banks and financial institutions
  • Employers
  • State motor vehicle registering bodies
  • State title offices and revenue agencies
  • AUSTRAC
  • Online selling platforms
  • Share registries
  • Cryptocurrency service providers

As always the Southern Summit Team are here to help all clients get the best outcome for their business and themselves personally.

The details outlined above are not designed to create concern for anyone, but rather identify some areas of risk that we will continue to address for all clients.  


Feel free to reach out to the Southern Summit team with any enquiries.