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Keeping you up to date

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.

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General Advice

The information provided by Bentleys (Sunshine Coast) Pty Ltd does not constitute financial product advice and is for general information only. It is written without taking into account any individuals personal objectives, situation or needs, and is not intended as professional advice. Any person acting upon such information without receiving specific advice, does so entirely at their own risk. Please contact your Accountant to discuss your personal situation before relying on this information.