ATO scrutinising novated leases (April 2024 Tax Update)

Name: Munro's, The Professional Problem Solvers
Address: 308 Fitzgerald Street, Perth, WA, 6000
Telephone: 1800 818 924
Rating: 5

Employers and employees utilising novated leases.

The ATO's data matching program on novated leases runs through 2023–2026, initially started in 2021, enhancing compliance oversight.
Data from key fleet groups like McMillian Shakespeare and Toyota Fleet Management, among others, pinpoints around 240,000 affected individuals annually.
This initiative targets GST credit misclaims by employers and incorrect FBT compliance, alongside employee tax deduction errors related to vehicle expenses.