In April 2023 the Commissioner gazetted the Notice of a residential investment property loan (RIPL) data-matching program. This program is designed to assist the Australian Taxation Office (ATO) in identifying non-compliance with their taxation obligations. It is part of a broader effort to ensure that taxpayers are meeting their tax obligations.
The ATO confirms that information gathered through the RIPL data-matching program will only be used for the purpose of identifying non-compliance with taxation obligations. Information that is not relevant to this purpose will be destroyed.
The RIPL data-matching program will match data from financial institutions including loan balances, interest and repayments. The data will be compared to identify any discrepancies.
The ATO has stated that that it will provide support and assistance to those who have unintentionally made errors on their tax returns.