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ATO data matching programs

Discussion in 'Accounting, Tax & Legal' started by NickM, 25th Sep, 2006.

  1. NickM

    NickM Co-founder Staff Member

    20th Jun, 2005
    Source : ICAA

    The ATO has issued notices of its data matching programs. Specifically, the ATO will be collecting details pertaining to:

    Property title transfers by non-residents and their names and addresses from the Foreign Investment Review Board. This information will be matched with ATO data to identify non-compliance with lodgment and payment obligations

    Property title transfers from a number of State and territory authorities including the New South Wales Office of State Revenue. These details will be matched with ATO data to identify non-compliance with capital gains tax (CGT), income tax and goods and services tax (GST) obligations

    Residential tenancy agreements from designated Residential Tenancy Authorities. While records relating to approximately 1.1 million individuals will be matched, it is expected that administrative action will only be taken on less than 1 per cent of this group

    Securities held in all Australian ASX listed entities. Approximately 2.8 million individuals will be affected by this data matching program. Administrative action is expected to be taken on a very small percentage

    Horse trainers, owners, jockeys, stable-hands and track-riders from the Stakes Payment System of the New South Wales Thoroughbred racing Board. These details will reflect data collected in respect of the 2003-04 and 2004-05 income years.