ATO Data Matching – don’t get caught out.

Make sure you include everything when you lodge anything to the ATO.

The ATO data matching capabilities draws information from many sources such as financial institutions, PAYG summaries, tax returns, health insurance and so on to ensure you have included all the necessary and correct information.

If they find the data doesn’t match, you will be contacted to find out why. It doesn’t mean you are dishonest in your tax affairs, the ATO just need to find out the reason for the difference.

The following video from the ATO explain further:

Source: ATO (11, May 2014) It’s not worth the risk (http://www.youtube.com/watch?v=vGA9Vg4eqpw) Retrieved from http://www.youtube.com