Tax Office Alert – ‘Wash Sales’Back Tax Office Alert – ‘Wash Sales’ Approaching the end of the financial year, the ATO has issued an alert on what it calls ‘wash sales’. These usually involve the sale and buy-back of shares. The alert may have important ramifications for investors endeavouring to crystallise a capital loss before year-end in this manner. (see Taxpayer Alert TA2008/7 on www.ato.gov.au).