ATO data-matching program for lifestyle assets
July 23, 2021
The ATO has issued a notice that it will acquire lifestyle assets data from insurance policies for about 300,000 individuals each year for the period 2020-21 to 2022-23. The data matching program will focus on the following assets above the thresholds indicated: Marine vessels ($100,000); motor vehicles including caravans ($65,000); thoroughbred horses ($65,000); fine art ($100,000 per item); and aircraft ($150,000).