#EveryoneNeedsaPlan: ATO Data Matching Rental Bonds & Novated Leases

Commencing 2024 FY through 2026 FY, the ATO will demand comprehensive data records from rental property bond authorities and novated lease companies:

• The ATO want to use the data obtained to match against taxpayer records and make sure all applicable tax is being paid
  • ATO Rental Bond Data Matching
  • ATO Novated Lease Data Matching
• Included in the data obtained from the rental bond authorities will be the rental payments
• If the rental payments don't match the income declared by the landlord to the ATO then there will likely be an issue
• The ATO will use the data records obtained from Novated Lease companies to remind taxpayers vehicle expenses under a Novated Lease are not tax-deductible