The ATO has on Thur 12.12.2013, gazetted a notice stating that it will request and collect data relating to credit and debit card sales of entities for the periods from 1 July 2012 to 30 June 2014 from various financial institutions, including Commonwealth Bank of Australia, St George Bank, Westpac Banking Corporation, Australia and New Zealand Banking Group Limited, and National Australia Bank Limited.

The acquired data will be electronically matched with certain sections of ATO data holdings to identify non-compliance with registration, reporting, lodgment and payment obligations under taxation law. It is expected that records relating to approximately 900,000 merchants will be matched.

[LTN 241, 12/12/13]

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