ATO Warning - Personal Assets (including cars) ATO Data Matching with Insurance Records

The ATO is targeting business owners who buy personal assets ie. cars over $65,000 in their own name with low income. "How can you afford a $100,000 car on $20,000 income" This also includes other assets such as Fine Arts, Boats and Caravans. Derek will explain what the ATO "lifestyle" Data Matching is all about and the role of your insurance company to supply information. #twelveaccounting #ato #businessowners #motorvehicles #insurance companies