The ATO has embarked on a “data matching” program where they will collect details of individuals or businesses that have acquired a vehicle with a transaction value of $10,000 or greater in the 2011-2012 and the 2012-2013 financial years from motor vehicle registries in all States and Territories.
The ATO will then electronically match that data with data they have on file to see if individuals and businesses are meeting tax obligations in relation to the vehicles acquired. This program may pick up obligations that have not been met in regards to fringe benefits tax, luxury car tax and Fuel Scheme compliance verification activity.
