The ATO has advised that it has obtained data that identifies credit and debit card sales made by Australian businesses in the 2011-12 financial year from various banks including:
- Commonwealth Bank of Australia;
- St George Bank;
- American Express Australia Limited;
- Diners Club Australia;
- Westpac Banking Corporation;
- Australia and New Zealand Banking Group Limited;
- National Australia Bank Limited; and
- Bendigo and Adelaide Bank Limited.
The ATO said the data will be matched against taxpayer records to identify those taxpayers who deliberately under-report or omit income by potentially skimming some or all of their cash takings, running a part of their business “off-the-books” or other ways or not reporting income.
[LTN 14, 22/1/13]