COS WE CAN: As Australia travels into unfamiliar economic territory seen through the recent price spikes of iceberg lettuce, the ATO has responded by ensuring that the public list lettuce as an asset when filling out their tax return. They believe at this price people will hoard them, and in an attempt to prevent corruption and an 'iceberg lettuce black market' from happening, they require data on the economy of the lettuce. Following the recent trend of increasing grocery prices, we are expecting to see 'fruits and vegetables' added to the list of assets that must be declared (in the next few years), with dropdowns of every variation included.
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