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Tax Office insurance data haul to capture ‘ordinary’ taxpayers

Tax Office insurance data haul to capture ‘ordinary’ taxpayers

The ATO’s pursuit of policy details from insurers is a “tried and tested way” of catching wealthy tax cheats, but its wide net could mean ordinary taxpayers get caught too, warns an accounting network.

by Shared by Accountants Daily | Dec 26, 2019

Trustee behaviour in focus as ATO wins in Administrative Appeals Tribunal

Last week, the Tax Office announced it would request to receive a further five years’ worth of policy information from over 30 insurance companies about taxpayers who own marine vessels, thoroughbred horses, fine art, high-value motor vehicles and aircraft.