As at end March, 2015, the ATO prosecuted 692 individuals and 212 companies for failing to properly do their tax. This included failing to claim deductions properly and making false and misleading statements. Financial ramifications included fines, costs and reparation orders totalling more than $7.3 million.
So it pays to know what you can do to avoid the financial and emotional stress associated with rectifying your tax return.
Here are some things that businesses have tried to claim, to no avail.