Lifestyle Assets Data Matching

Here is a great article that is worth reading.

ATO data-matching program — lifestyle assets

The ATO will acquire lifestyle assets data from insurance policies for 2020–21 through to 2022–23 for the following assets where the value is equal to or exceeds nominated thresholds.

Asset class Minimum asset value threshold

Marine vessels $100,000

Motor vehicles $65,000

Thoroughbred horses $65,000

Fine art $100,000 per item

Aircraft $150,000

The data items include:

• client identification details (names, addresses, phone numbers, dates of birth, Australian business number, email address), and
• policy details (policy number, policy inception date, start date of current policy, end date of current policy, total value insured, purchase price of the property insured, registration or identification number of the property, insurance category, policy cost, description of the property insured, primary use type).

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