Disposal of Assets

ATO To Target ‘Wash Sales This Tax Time | Taxwise Australia | (08) 9248 8124

ATO To Target Disposal of Assets Via ‘Wash Sales’ This Tax Time

By Warren Kruger / July 26, 2022 / 0 Comments

The ATO is warning taxpayers to not engage in ‘asset wash sales’ to artificially increase their losses to reduce gains (or expected gains).  Wash sales are a form of tax avoidance that the ATO is focussed on this tax time. Wash sales typically involve the disposal of assets (e.g., cryptocurrency and shares) just before the […]

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