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The ATO has issued a notice advising that it will obtain details for the period 20 September 1985 to 30 June 2016 from various share registry services. The type of data the ATO will collect will comprise of contact details, purchase and sale details, and quantities of shares bought and disposed of. It is projected that more than 95 million records will be obtained, including the records for approximately 1.2 million taxpayers.

Project DO IT is an opportunity for taxpayers who have engaged in previously unreported offshore financial activities to get their tax affairs in order. Increased international collaboration means the net is closing in on tax evaders around the world. In recent years, information sharing between countries has improved significantly.

With the end of the financial year just around the corner, it’s time to reflect and put finances in order for the coming year, whether you're a business owner, employee or individual investor.

 

 

The Commissioner has announced that the ATO will obtain details of entities receiving taxable payments from various local government Councils and Shire authorities throughout New South Wales, Victoria, Queensland, Western Australia, South Australia, Tasmania, and the Northern Territory. The data-matching program covers the 2011 to 2014 financial years.