The ATO has provided notice of a data matching program which will focus on real property transactions.
The ATO will be obtaining details of real property transactions from 20 September 1985 (i.e., when the CGT regime was introduced) to 30 June 2017 from all the state revenue and land title offices as well as the rental bond authorities around Australia. It is expected that around 31 million records will be obtained in relation to each year covered by the program.
The ATO will use this information to obtain intelligence about the purchase and disposal of property in order to identify risks and trends of non-compliance. The ATO will also use the data to customise compliance activities in order to address risks that are specific to real property transactions.
December 2015 Newsletter December 2015 Newsletter …