Data matching programs are being conducted by the ATO to acquire rental property data.

ATO Data matching Program - Property Management

The ATO will acquire property management data from property management software providers for the 2018–19 to 2022–23 financial years. The data will be matched against ATO records to ensure compliance with tax obligations, such as correct reporting of rental income and deductions, and protect the tax system’s integrity. It will acquire property owner identification details, rental property details and property manager details.

The ATO will also continue to acquire rental bond data from state and territory rental bond regulators bi-annually for another 3 years to 30 June 2023. The data will be matched against ATO records to identify and address taxation risks, including income tax reporting obligations for income-producing properties and capital gains tax events arising upon disposal of a property. The data items will include landlord and managing agent identification details and rental bond transaction details.

For more information please contact your Client Relationship Manager.

Source: CCH iKnow