tomorrows open, page-31

My03, if you don't understand the ATO CGT implications, I strongly recommend you get some financial advice.

If people buy and sell, and then don't declare because some ill informed friend / acquaintance says no CGT is payable, they may well end up with a huge bill + interest + fine from the ATO. In many instances this may be years down the track, and the accumulated liability $$$ may be huge.

Remember the ATO works in "lag mode" & "self assessment", but eventually all information from fund managers, trustees, brokers, banks etc etc tell them a picture.