"LowDoc" loans targeted 24.11.2005
The Tax Office commenced a project last year that investigated people using low documentation (LowDoc) loans on the basis that many people using these products may have either understated their income or failed to lodge income tax returns. 
 
This year the Tax Office will systematically: 
 
• check the lodgment status of people obtaining LowDoc loans;  
• review the income disclosed in the returns lodged by people obtaining LowDoc loans; and  
• match the information provided to insurance companies where the LowDoc loans require mortgage insurance. 
 
The Tax Office will also continue to concentrate on identifying high-risk brokers so that it can review whether they and their clients are complying with their tax obligations.

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