[PODCAST] Big Brother is Watching Your Tax And Data – What you need to know
In 1949 George Orwell wrote his gloomy masterpiece 1984. It was a chilling book.
Someone must’ve given the tax office a copy because that fictional tale has become reality and big brother is here now and looking into your life to see if they can get more tax out of you.
The ATO is throwing an unprecedented amount of money into what’s called “Data – Matching” and it’s, frankly, a bit scary.
Today I get Carmel from Investor accounting in to discuss what this means for you, what they are on the hunt for and what you MUST know…
The agencies that are now in cahoots with the ATO… (including your bank in ways deeper than you’d expect)
How they are now using social media to scrutinise your lifestyle to see if it’s in line with your tax return – Talk about invasion of privacy!
How far back they are now looking into your property transactions – this one could have you quaking in your boots.
How your car registrations, boat registrations, child maintenance, Centrelink interactions, debit and credit cards, eBay and gumtree transactions could be under scrutiny.
What you have to do now if you want to claim your ipad, phone or lappy. – it’s just got way more difficult.
Even the old “off-shore” back accounts are under fire.
Find out how big brother has got you under the microscope and what you need to pay attention to.
Also the important deadline you need to pay attention to if you have any tax debt at all – get this wrong and it would be devastating for your property game.