Investment property owners, don’t try and cheat the system when it comes to tax.

The big tip: Don’t risk undeclared income

You might think it will reduce your tax bill to not declare some of your income, but there could be serious financial consequences. The data matching technology now used by the ATO has significantly improved their ability to detect undeclared income. Information extracted from your bank accounts, health insurance funds, BAS statements, superannuation accounts and even social media is compared to information provided in your tax return.