Central Coast Accountants

ATO to data-match motor vehicle purchases

Published on December 16, 2012 at 12:00 AM

The ATO is collecting details of individuals and businesses who have purchased or acquired a vehicle with a transaction value of $10,000 or greater in the 2011–2012 or 2012–2013 financial years. The information will be collected from state and territory motor vehicle registries and matched electronically with the ATO’s records. The ATO is seeking to address potential non-compliance in the following areas:

  • income tax
  • superannuation
  • goods and services tax
  • fringe benefits tax and
  • luxury car tax.