Australia: Cryptoasset data-matching program
The Australian Taxation Office issued a gazette notice to “crypto designated service providers” of its data-matching program.
Cryptoasset data-matching program
The Australian Taxation Office (ATO) issued a gazette notice to “crypto designated service providers” of its data-matching program.
According to the notice, the ATO will acquire account identification and transaction data for the 2023-2024 financial year through to the 2025-2026 financial year inclusively.
The data items include:
- Client identification details (names, addresses, date of birth, phone numbers, social media account and email addresses)
- Transaction details (bank account details, wallet addresses, transaction dates, transaction time, transaction type, deposits, withdrawals, transaction quantities and coin type)
The notice further adds that the data will be acquired and matched to ATO systems to identify and treat clients who failed to report a disposal of cryptoassets in their income tax return.
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.