Australian Taxation Office

New or updated materials on ATO website, including:

Third party reporting and data matching

Treasury has released exposure draft legislation and a range of supporting materials from the ATO regarding the proposed measures to enhance third party reporting and data matching. The following transactions will be subject to the enhanced reporting requirements from 1 July 2016:

  • government grants and payments
  • real property transfers
  • transfers of reportable securities and units in a trust, and
  • business transactions made through payment systems.

Closing date for submissions on the exposure draft law is 14 August 2015. The ATO is also seeking feedback on the administration aspects of this measure via its Let's Talk website.