Stop and check the facts this tax time
By Laura Thomas
The Australian Tax Office is warning Australians to stop and check the facts this tax time, as an increasing number of misleading tips and hacks circulate online.
The ATO has noted a rise in tax-related content being shared online via AI platforms, social media, influencers and well-meaning family and friends.
“In an environment where misinformation can spread within minutes, it’s important to pause and check your tax information before you act on it, for example when you go to lodge your tax return. If a tax claim sounds too good to be true, it’s worth checking,” ATO Assistant Commissioner Anita Challen said in a media release.
And as tax time looms, good record-keeping remains critical for the success of any business – and olive production is no exception.
Accurate and up-to-date records allow business owners to keep a close eye on income and expenses, manage cash-flow, minimise losses and ensure they meet all relevant tax and industry obligations.
The information and links below are intended to help point you in the right direction, but is no substitute for professional, tailored tax advice.
Please consult an expert when making decisions for your business or preparing your annual return.
The ATO’s 2026 tax-time focus
The ATO says it will focus on areas where taxpayers are likely to make errors, including work-related deductions and expenses, and omitted income.
“Remember our 3 golden rules: Work-related expenses must relate to earning your income, you must have spent the money yourself and not have been reimbursed, and you have to be able to support your claim with records such as a receipt, invoice or logbook,” Ms Challen said.
Deductions and information for agriculture workers
The ATO offers occupation‑specific guidance for almost every line of work, including agriculture.
Visit ato.gov.au/agriculture to learn more about the deductions you can claim, income you need to declare and the records you must keep.
With Payday Super taking effect from 1 July 2026, tax time is also a great opportunity to check your super and make sure your details are up to date so you can be sure you’re receiving the full entitlement from your employer.
Deductions and information for businesses
Tax deductions are claimable for a range of expenses, provided they are directly related to your business earnings.
These expenses can include things like regular operating expenses, the purchase of business products and services, and capital costs such as the purchase of machinery and equipment used by the business.
Visit the ATO website to find out more about what you can and can’t claim.
And with Payday Super set to take effect from 1 July 2026, it’s imperative employers understand what they need to do to meet their super guarantee obligations.
Olives levy and returns
The Australian olive industry’s “levy year” runs from 1 October to 30 September annually, but timely and accurate record keeping is vital throughout harvest and beyond to ensure payment of accurate levies and returns.
Australian olive producers are liable for the Olives Levy which is calculated at a rate of $3.10 per tonne.
Growers processing their own olives are exempt from paying the first $100 worth of levies, which equates to about 32.25 tonnes. For those not processing their own olives, the Olives Levy is paid by the processor.
Keeping good records is the only way to ensure producers receive what is owed. Find out more.
Support is available
A range of support options are available to help individuals and businesses manage their tax responsibilities.
Visit the ATO website for more.
Sources:
www.ato.gov.au
www.australianolives.com.au