AFF Member Stock Discussion

[Dr Ralph]

A related question:

I was looking at my tax return and I just noticed that ATO now data match share transactions/sales. Haven't noticed it previously. Does anyone know when ATO started doing this? Does anyone have insight how they did it and from what source?

Several years ago.

Every year the info they have for me is wrong. Eg $10,000 in franking credits. But should be $15,000!

 

[HappyFlyerFamily]

Several years ago.

Every year the info they have for me is wrong. Eg $10,000 in franking credits. But should be $15,000!

Haha. Yes, I've seen the data matching for dividends for decades probably. But also I think I gave the company my TFN.

 

[Dr Ralph]

Tomorrow will be interesting to see how scaled back I am on the LTR SPP.

No scale back!

Note shares have now been issued. Just sold mine. Not unhappy with the quick 23% profit!

 

[prozac]

A related question:

I was looking at my tax return and I just noticed that ATO now data match share transactions/sales. Haven't noticed it previously. Does anyone know when ATO started doing this? Does anyone have insight how they did it and from what source?

I know this happens but interested in how you noticed it from your tax return?

 

[Mr_Orange]

I know this happens but interested in how you noticed it from your tax return?

If you use the ATO's online system to do your own tax return (as opposed to using an accountant), share sales will be pre-populated.

 

[prozac]

If you use the ATO's online system to do your own tax return (as opposed to using an accountant), share sales will be pre-populated.

Thanks @Mr_Orange

 

[SYD]

If you use the ATO's online system to do your own tax return (as opposed to using an accountant), share sales will be pre-populated.

Yep, once you quote your TFN, they track all Dividends, Distributions and Sales.

It’s not infallible - many things don’t get reported for some reason..

If you don’t provide your TFN, the ATO won’t see them but the Entity is required to slug “Withholding Tax” on any Dividends / Distributions.

 

[RSD]

Not one of mine but maybe on my watch list. though have had a fatality in Child which could set thm back. several other junors with G in the midlle though.

The one I am looking at is looking for gold on an island.

 

[Mr_Orange]

No scale back!

Note shares have now been issued. Just sold mine. Not unhappy with the quick 23% profit!

Was this one of your "minimum share holdings just so you can get in on the SPP" based trades?