THE Australian Taxation Office is targeting owner builders who may not be meeting their taxation obligations.
The Owner Builders Data Matching Project will see the ATO acquire owner builder licence registration information from the following the Building Commission in Victoria and the NSW Office of Fair Trading.
The data will be electronically matched with ATO data holdings to identify taxpayers who may not be meeting their taxation obligations.
Records relating to approximately 75,000 entities will be matched.
The ATO said the data will enables it to address non compliance with tax obligations through electronic data matching and take a strategic approach to compliance activities related to the building and construction industry.
Australian Property Journal
