Capital Gains Tax

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Apr 3rd 2005, 7:24 pm

#16

Kiwipaul

BE Forum Addict

Joined: Jan 2003

Location: Brisbane

Posts: 1,576

Re: Capital Gains Tax

Quote:

Originally Posted by kirsty&al

Making the election doesn't make it easy for them as it is something that you keep in your tax file. The only time they see it is if they investigate. Making the election would not change the current information the ATO has on you, it would just backup the calculations you described earlier, if they came looking.

A.

Your right I've read the link you supplied a number of times over the last 12 months and always assumed that you had to send the election off to the tax office but now I've read it yet again and it specifically states don't send it just keep it with your records.

In actual fact now you mention it I made the election years ago (better warm my printer up toot suite).