Quantcast
au iconAU

 

 

Practitioners cautioned ahead of ATO’s CGT focus

The Tax Office’s ever-increasing data-matching capabilities means tax practitioners need to be pushing clients for contemporaneous and thorough records, particularly as the agency places a focus on capital gains tax.

Practitioners cautioned ahead of ATO’s CGT focus
smsfadviser logo
Practitioners cautioned ahead of ATO’s CGT focus

Speaking to Accountants Daily, HWL Ebsworth Lawyers senior associate Vincent Liccardi said the ATO’s increased focus on CGT stems from its increasing data-matching abilities, as well as new international agreements — such as the Common Reporting Standard — which will allow the Tax Office to scrutinise tax information with foreign jurisdictions.

Read more at the Accountants Daily

Subscribe to Public Accountant

Receive the latest news, opinion and features directly to your inbox