Australian ATO uses AI to monitor tax compliance focusing on cryptocurrency, sharing economy, and rental property deductions.
The Australian Taxation Office (ATO) is using AI to monitor tax returns, focusing on cryptocurrency gains, sharing economy income, rental property deductions, work-related clothing claims, and the $300 receipt-free threshold. This initiative aims to address the $8.7 billion tax shortfall between expected and actual tax payments from individuals in Australia, with a focus on those with lax record-keeping.
June 08, 2024
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