ATO data matching of lifestyle assets extended
Even among the doom and gloom of the pandemic lockdowns, the ATO continues to march on with its data matching programs. This time it has extended a previous data-matching program targeting the owners of lifestyle assets including marine vessels, motor vehicles and caravans, thoroughbred horses, fine art, and aircrafts. Data will be collected from various insurance companies consisting of policy details, as well as individual policy holder personal details. It is estimated that records relating to approximately 300,000 individuals will be obtained each financial year.
