The ATO has announced that it will conduct a data-matching program on credit and debit card transactions for the 2012/13 and 2013/14 years.
Data will be collected from the following financial institutions:
- American Express Australia Limited;
- Australia and New Zealand Banking Group Limited;
- Bank of Queensland Limited;
- Bendigo and Adelaide Bank Limited;
- BWA Merchant Services Pty Ltd;
- Commonwealth Bank of Australia;
- Diners Club Australia;
- National Australia Bank Limited;
- St George Bank; and
- Westpac Banking Corporation.
Based on previous programs, it is estimated that over 8 million records will be acquired, relating to over 940,000 merchants. These records are linked to approximately 90,000 individuals and 850,000 non-individuals.