Australian Taxation Office to force banks to hand over landlord data in investment property crackdown

The Australian Tax Office will compel 17 financial institutions, including the big four – Commonwealth, Westpac, NAB and ANZ – to provide landlord data. Photograph: Joel Carrett/AAP

Banks will be compelled to hand over the data of 1.7 million landlords, including transaction details, as part of a tax office crackdown in search of $1.3bn in revenue lost from residential investment properties.

The data-matching program will target people failing to declare rental income or pay capital gains tax, and those incorrectly claiming deductions – including rental property loan interest – to reduce income and negatively gear properties.