Capital Gains in 2010
More than 1,000 Capital Gains Tax (CGT) claims were reviewed or audited in the last finanical year, resulting in revenue adjustments in excess of $5m.
This year the ATO will continue to place particular focus on CGT claims.
Be adequately prepared with appropriate records of purchases, acquisitions, sales and disposals of assets which may have CGT implications.
If you are unsure of your obligations, refer to CGT guides found on the ATO website or seek advice from a tax professional.
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