ATO data matching of share transactions

Share transactions – 20 Sep 1985 to 30 Jun 2018 data matching program protocol (amended)

At a glance

Program objectives

The purpose of the ATO’s data matching program is to ensure that taxpayers are correctly meeting their taxation obligations in relation to share transactions. These obligations include registration, lodgment, reporting and payment responsibilities.

As taxpayers can hold shares for many years before disposal, the collection of transaction history data dating back to 20 September 1985 (the introduction of the CGT regime) is necessary to enable cost base and capital proceeds calculations. Collecting data back to 1985 does not change the ATO’s general compliance approach of reviewing share disposals within the standard period of review.

How the data will be used

The ATO will match this data against ATO records and other data they hold to identify taxpayers that may not be meeting their registration, reporting, lodgment and/or payment obligations.

Over 500 million records will be obtained from ASIC. The ATO is acquiring data from the start of their market surveillance system in July 2014 for use with the legislative provision of this data from 1 July 2016. The collection of data under this program is expected to occur progressively on a biannual basis during the 2016–17 and 2017–18 financial years.

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Related reading

Data matching and share transactions

Source: ATO