I sold my house during the last financial year and feel it might be subject to some CGT. Do I have to flag this to the ATO or do they alert me?
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The ATO might or might not alert you to the fact that you have disposed of an asset that may has CGT consequences. Regardless of whether or not you receive an alert, it is your responsibility to ascertain whether you have to pay CGT and, if so, to calculate the correct amount.
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The ATO might or might not alert you to the fact that you have disposed of an asset that may has CGT consequences. Regardless of whether or not you receive an alert, it is your responsibility to ascertain whether you have to pay CGT and, if so, to calculate the correct amount.
Thank you for your advice
Was it your home or your investment property?
I did live in it as my home, but it was also rented out for some years while I lived elsewhere
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