Hi does anyone that has IVV.AX shares know if they send prefill information to the ATO?
Probably but so what? I hope you’re not relying on what the ATO has pre-filled. You do know I trust it has a disclaimer it does not guarantee the data is accurate. When you submit a tax return you are certifying the information is accurate. If it isn’t the ATO can come after you. I can assure you it wont be a pleasant experience.
Also best to keep records as you are legally required to under the Income Tax Assessment Act 1997. The ATO which administers the Act has this guideline on the matter.
Records you need to keep
Work out what format your records need to be in, how long to keep them and when you need them.
www.ato.gov.au
And have a read of this too on the penalities which can be imposed for not retaining or keeping records. A penalty unit is around $200 so 20 penaly units is four grand.
Apologies. I omitted to include the link to the ATO’s qualification regarding pre-fill information which is at the bottom of the page.
Pre-fill availability
Use this content to check if third-party information is available to pre-fill into your tax return for 2021–22.
www.ato.gov.au
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