The Tax Office has now extended its lifestyle assets data-matching program for the 2020–21 financial year through to 2022–23, allowing it to acquire insurance policy information for certain asset classes.
Read more at Accountants Daily.
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ATO zeroes in on lifestyle assets
The ATO will now have information on an individual’s new $65,000 car or their $100,000 boat as it looks to flush out tax dodgers who aren’t being completely honest about their financial affairs.
