As ATO’s data-matching capabilities increase they are paying close attention to capital gains made on shares, property and cryptocurrency.

Advise us about your asset disposals, which can include an asset’s sale, loss or destruction. The type of capital gains tax (CGT) event that applies can affect:

  • how a capital gain or loss is calculated
  • when it is included in a net capital gain or loss.

Good records will help us work out a capital gain or loss correctly when you dispose of an asset. You generally need to keep records relating to any CGT event, including asset disposals, for at least five years after the year in which the event occurred.

You should also keep records for any net capital losses, which you may be able to offset against capital gains in a later year. Once a loss is offset against a capital gain, you should keep your records of the CGT event that resulted in the loss for:

  • two years (for individuals and small businesses)
  • four years (for other taxpayers).