This year we received and data matched over 539 million transactions for purposes of both assistance and enforcement.
In 2010-11 we received:
- 238 million share ownership and disposal transactions
- 97 million investment, employment and health transactions
- 42 million Australian Electoral Commission transactions
- 29 million superannuation transactions
- 25 million property ownership and disposal transactions
- 12 million Australian Transaction Reports and Analysis Centre transactions
- 449,000 employee share schemes transactions
- 93 million other transactions
We use this data to:
- provide pre-filling information to taxpayers and their agents to help them correctly complete their income tax return first time
- identify discrepancies between information reported by taxpayers in their tax returns against details reported by third parties
- identify particular non-compliant behaviour within selected target groups, or to conduct risk assessments
- assist in administration of the relevant legislation with other government departments through data exchange
- exchange with treaty partners.
The types of data we focus on includes:
- investment income including interest, dividends and unit trust distributions
- employment and welfare income
- foreign sourced income
- capital gains tax, such as the disposal of property and shares
- health insurance policies for Medicare surcharge levy purposes and private health insurance rebate claims
- eligibility for tax offsets and the Medicare levy exemption
- employee share schemes income.
Revenue raised from matching activities included:
- $690 million from ensuring employers met their obligations
- $351 million from omitted investment, employment and benefits income and over claimed offsets
- $129 million in capital gains tax from the disposal of shares and property
- $118 million liabilities from employee share schemes
- $18.8 million from partnerships and trusts.