When we buy / sell shares, on profits we get the BEFORE TAX AMOUNT into our Bank Accounts.
My Qs is, if say the HIN does not have a TAX file Number provided, how will the ATO know you are liable for any Cap Gain tax?
Secondly, you will obviously be paying a higher tax on dividends (as you have not quoted your TFN), having said that, the profit on capital gain MORE than outweighs the dvidend amount.
Eg. say I do a trade on a stock, it pays no divdend and I have made $10,000 PROFIT within 7 months.
I have not quoted my TFN
How will the ATO know of this 10,000 profit? (one of many profits)
