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Offline mhh

  • Chief Test Pilot

  • Joined: Feb 2006

  • Location: Adelaide
The story isn't news. The ATO has been data matching since forever to find unexplained wealth.



Offline Fil-Ski


  • Joined: Feb 2009

  • Drives: 993TT
  • Location: Adelaide
The story isn't news. The ATO has been data matching since forever to find unexplained wealth.

Yeah but not down to the $10,000 level. The previous threshold was $100,000.



Offline PA

  • One man comedy gala

  • Joined: Jan 2008

  • Location: www.club-carbon.com
Yeah but not down to the $10,000 level. The previous threshold was $100,000.
When it gets down to a $1,000 let me know.



Offline Fil-Ski


  • Joined: Feb 2009

  • Drives: 993TT
  • Location: Adelaide
When it gets down to a $1,000 let me know.

The way the government is going it won't be long.



Offline Condor Man

  • Is it a Bird?? Well, sort of, Yes.... 300kph+ club
  • Plastic Surgeon

  • Joined: May 2012

  • Drives: A car
  • Location: L.A.
I read it as a registration data match not the funding source.

As 360C said, data matching is the ATO's night vision goggles to identify their targets. Interesting times for those who try to hide

They picked up this Model from the Italians which used Prestige Car Hunting very successfully 2 - 3 years ago to find millions in Tax evasion.

They actually had undercover cars parked in Cortina and other wealthy parts and they pulled over anyone in a Porsche, Range Rover, Ferrari, Merc etc and they were amazed at how many of these owners had not declared incomes for years.....
May the Horse be with you....



Offline Condor Man

  • Is it a Bird?? Well, sort of, Yes.... 300kph+ club
  • Plastic Surgeon

  • Joined: May 2012

  • Drives: A car
  • Location: L.A.
BTW - I say Suck Shit to those pricks that don't pay LCT.

If we all should pay it, then so should they!
May the Horse be with you....



Offline 360c

  • 300kph+ club
  • Drug Dealer

  • Joined: Apr 2006

  • Drives: Purple People Eater
If you buy anything with the intent of making a profit then the ATO says it's taxable. These days if you have a clean out at home and sell it on ebay for more than $20k in a year it's taxable.



Offline dkabab

If you buy anything with the intent of making a profit then the ATO says it's taxable. These days if you have a clean out at home and sell it on ebay for more than $20k in a year it's taxable.

even if you bought it all for 50k?



Offline 360c

  • 300kph+ club
  • Drug Dealer

  • Joined: Apr 2006

  • Drives: Purple People Eater
even if you bought it all for 50k?

Yup, even if it was $50k and all personal use stuff you paid taxes on when you bought it.
The ATO view is that you are running a business which makes no sense.



Offline andecorp

  • Biggest daddy in the park 300kph+ club
  • No idea how to make her happy!

  • Joined: Jan 2007

  • Drives: too many cars for one ass
If you buy anything with the intent of making a profit then the ATO says it's taxable. These days if you have a clean out at home and sell it on ebay for more than $20k in a year it's taxable.
$10k now for ebay.
You make something idiotproof, they'll make a better idiot.



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