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The stricter Age Pension assets test came into force more than a year ago, but it is probably only now that the impact of this change is being felt, especially by middle-income wage earners.

If you run a “bucket company” as a beneficiary of a family trust you will be interested to hear that a new Bill has been introduced in Parliament that will exclude companies that fail a “passive income test” from the lower corporate tax rate of 27.5 per cent.

To help you prepare for your tax return, here are some tips on the types of claims that are now coming under scrutiny by the ATO, and what you need to do to minimise your chance of being audited.