Quantcast
au iconAU

 

 

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.

Tax Office insurance data haul to capture ‘ordinary’ taxpayers
smsfadviser logo
Tax Office insurance data haul to capture ‘ordinary’ taxpayers

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.

Read more at Accountancy Daily.

Subscribe to Public Accountant

Receive the latest news, opinion and features directly to your inbox