throwawayaccount - good posting name I like that very creative!!
Maybe different accounts give different information to the ATO, I know in my case, no buy dates or sell dates for stuff within the year as I have to actually physically sign the sheet of information given to the ATO - otherwise if franking credits cant be claimed, why cant the company paying the franked dividend not have to use up that either.
I think ATO are more worried about Google, Apple and the like then franking credits related to Australian investors.
As we know through the Centrelink debacle that the ATO is now working with others to share information like banks and interest - I no longer have to give my accountant any information on divs nor interest - ATO already has ( I merely check it), but if that debacle (centrelink) is anything to go by, might be sometime before ATO has the systems in place to get any every single trade from the registers particularly the bot trades oh what a nightmare... but I am sure at some time in the future it will happen...just as I am sure sometime in the future someone will work out the loophole.
Just out of interest was your profession in one of their targeted professions that year? sounds like your bill after the audit wasn't that much so you really hadn't got it too far wrong.
EPW Price at posting:
$1.12 Sentiment: None Disclosure: Not Held
