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Policy details from insurers about “lifestyle assets”

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ATO receives five more years of policy details from insurers about “lifestyle assets” like yachts, fine art

The Australian Taxation Office (ATO) revealed it will be requesting a further five years’ worth of policy information from over 30 insurance companies about taxpayers who own marine vessels, thoroughbred horses, fine art, high-value motor vehicles and aircraft.

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Lifestyle assets under ATO watch

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Lifestyle assets data matching program protocol

The ATO is conducting a lifestyle assets data matching program to obtain information on insurance policies for marine vessels, enthusiast motor vehicles, thoroughbred races horse, fine art and aircraft.

The ATO will obtain information from data providers for the 2013/14 and 2014/15 financial years, to identify taxpayers who are […]

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