The ATO is accessing more than 500 million records detailing price
, quantity and time of individual trades dating back to 2014. The information complements information that the ATO already holds from brokers, share registries and exchanges.
Utilising this wealth of information, the ATO will explore what has been reported on tax returns, specifically, capital gains on the sale or transfer of shares and the losses claimed.
Given that more than 5 million Australians now own shares, the ATO is keen to ensure that errors are minimised.