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12 Jun 07 CGT for 2006-07 tax returns

The ATO has advised that it will continue to focus on capital gains tax (CGT) this year and people who do not report capital gains for the sale or disposal of shares, properties and other assets. The ATO uses data from state and territory revenue offices, managed funds, the Australian Stock Exchange and share registries, matching it against tax return information to identify share and property sales that involve capital gains.

For a copy of the advice, go here

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