ATO continues to target individuals: novated leases
As 2021 calendar year hits the half way mark, the ATO is continuing with its playbook of targeting individual taxpayers. This time, it is targeting taxpayers that have entered into novated leases to obtain vehicles. Data will be obtained from various novated lease companies for the 2018-19 to 2022-23 financial years to ensure that individuals are not overclaiming deductions. Employers will also be targeted to ensure that FBT obligations have been met. It is estimated that records relating to approximately 260,000 individuals will be obtained each financial year.
