opus clients please read this urgent, page-239

I'm one of the lucky ones. I was going to sign up with TD and then this happened! Wow - how lucky I was! This has to be the biggest rip off I have ever come across in the market in my entire life. I hope everyone who got their shares taken get their shares or money back. But maybe that might take a while?

I'm not an accountant, but I think any loss here should count as a negative cgt tax liability. So anything you make from shares from now on should incur 0% CGT tax for quite a while because under the tax rules tomorrow's share profits can be offset by yesterday's share loss.

I'm not sure about the 12mth CGT discount period. But I expect if you buy the same shares to replace the shares forcefully sold by ANZ you could apply to the ato for a private tax ruling to have any accrued holding period passed on to the new shares.

I hope those who got caught up in this don't get put off the market altogether. I lost 80k in my first year of trading, but due to the above tax reasons I got back in there with a vengence and now I'm way in front.

Now has to be a good time to be investing in shares because I think the market is recovering. So my advice is to not let an unfair rip-off turn into a lost opportunity also. Maybe try to consolidate what you have left and invest wisely.