ATO crypto data-matching program extended
The ATO has announced it will be extending its current crypto asset data-matching program for the 2023–2024 financial year through to the 2025–2026 financial year.
Under this program, identification data will be collected from both individuals and non-individuals, such as SMSFs or other entities.
Note that the the data retention period for this program be seven years from the receipt of the final instalment of verified data files from data providers, as opposed to the usual five years for other data-matching programs run by the ATO.
The ATO will use the data obtained from the program to promote voluntary compliance and educate individuals and businesses that may be failing to meet their registration and/or lodgment obligations. In addition, insights from the data will be used to develop compliance profiles of individuals and businesses and initiate compliance action as appropriate.
SCAMS
At this time of year there is an increased number of scam ATO emails and text messages. If unsure of orgin ALWAYS contact your accountant to verify.