Coco Hou: Top 5 tax return mistakes that will trigger an ATO audit this year

Five tax return mistakes that will trigger an ATO audit

Small businesses have been warned to look out for five mistakes that might lead to being audited by the Australian Taxation Office (ATO) as tax return season begins.  The number one reason Australians are audited is by overclaiming deductions, said Coco Hou, CPA and CEO of Platinum Accounting Australia.  If deductions are found to be higher than those of others in your profession or income range, the ATO’s system will flag it automatically, and …

Coco Hou: Top 5 tax return mistakes that will trigger an ATO audit this year

With the Australian Taxation Office (ATO) stepping up its audit efforts in 2025, Coco Hou, CPA and CEO of Platinum Accounting Australia, is urging all taxpayers to take extra care this financial year. Hou said the ATO is smarter and faster than ever before, using sophisticated data-matching systems and AI to spot errors, inconsistencies and fraudulent claims, often before a return is even processed. "If you're cutting corners or fudging the numb…