We have mentioned it before….but in case you have invested in a race horse or an aircraft since our last alert we wanted to let you know that the ATO are continuing to undertake a data matching program on ‘lifestyle assets’.

The ATO intend to check income declared against ‘lifestyle’ assets owned to make sure everything adds up. This is an item on our checklists we consider when we prepare your return each year - and if we are concerned you may trigger questions from the ATO we usually speak to you about it.  But just in case you have an aircraft you have not told us about (!) or have just invested in a nice new piece of fine art give us a call if you have any questions.

For further information, please click here.