ATO data matching and share transactions

December 2018

The ATO has extendedits data matching program, this time focusing on share data.

The ATO willcontinue to receive share data from ASIC, including details of the price,quantity and time of individual trades dating back to 2014, with more than 500million records obtained.

The ATO will use theinformation to identify taxpayers who have not properly reported the sale ortransfer of shares as income or capital gains in their income tax returns.

It seems sharetransactions are high on the ATO's priority list, given more than 5 millionAustralian adults (almost one-third) now own shares.

EDITOR'S NOTE

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