The ATO is expanding its data matching activities to check transactions occurring up to 30 years ago. To date, the ATO has mainly focused on data matching recent merchant sales, payroll information reported to other government agencies, recent eBay sales and recently earned offshore income but has not undertaken a comprehensive data matching program such as the following which is about to commence.

The ATO will soon be seeking to acquire real property details from the various State Revenue offices and tenancies boards for every year back to 20 September 1985. The information sought includes:

1.    Landowner’s full name and address;
2.    Date of property transfer;
3.    Property sale contract date;
4.    Settlement date; and
5.    Valuation details.

It is expected that over 30 million records for each year will be obtained and records relating to over 11 million individuals will be matched to ensure compliance with a variety of taxes including Capital Gains Tax and Income Tax.

Should you wish to know more about the ATO’s data matching activities and how they might impact you or your business, please contact Murray Howlett, Josh Meggs or Kylee Smith from our Taxation Services Division on (07) 3023 1300.