Tax Office reminder that tax time is here

The Tax Office has reminded taxpayers to start thinking about preparing and lodging their tax return by the 31 October 2007 deadline. The Tax Office will again focus on deductions for work-related expenses, rental property expenses and capital gains from the sale of property and other assets. The Tax Office said it will also focus on:

• the compliance behaviour of high income earning executives; and
  
  

• capital gains from assets sold to contribute to superannuation before the new super changes came into affect on 1 July