Latest Tax News
19th November 2014
ATO's data matching program on specialised payment systems
The ATO has announced a data matching program in relation to electronic payments made to businesses through specialised payment systems.
For the period 1 July 2013 to 30 June 2014, it will request and collect data from the following businesses:
- Debit Success
- IP Payments
- PayPal Australia
- POLi Payments
and the following banks BPAY data: ANZ, Commonwealth Bank, National Australia Bank, St George Bank and Westpac
The ATO will collect details of merchant and biller business names, contact details, settlement amounts, and transaction records. Records relating to approximately 25,000 individuals will be matched.
If you are concerned you haven't declared all of your income on your tax returns, Contact us to discuss your situation and find out how Accountcorp Group Services can help