‘Real property transactions 1985–2017 data matching program protocol”.
The ATO has also advised that it is continuing its ongoing “Real property transactions 1985–2017 data matching program protocol”.
It is undertaking this program to basically ensure that taxpayers are correctly meeting taxation obligations in relation to their dealings with real property, i.e., CGT on property sales and income tax on rental income.
For the period 20 September 1985 to 30 June 2017, data will be obtained from all State and Territory Revenue authorities, as well as many Finance departments, and Land and Residential Tenancies authorities.
The ATO will obtain the data on:
- landlords, properties, rental income, etc., from the rental bond authorities; and
- taxpayer details on property valuations, sales, purchases, etc., from the revenue and land titles authorities.
Number of records
It said that, based on current data holdings, it is estimated these records will identify approximately 11.3 million unique individuals.