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20:25
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Originally posted by bellenuit:
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Yes, if you have no other income or capital losses that is correct. In fact even if you don't need the income from selling the shares, you might still want to consider selling parcels that keep you under the threshold and buying them back straight away. This is not a wash sale as you are selling for a profit and not a loss. The benefit of doing that is that you establish a higher cost base for those shares, allowing you to sell bigger parcels down the track if you needed a lot of funds in a hurry. You need to be aware that the ones you buy back will not get the 50% discount unless held for another year, but the following year (if before the 12 months are up) just sell a different parcel.
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The same tax rules that the ATO seek to apply to wash sales (Part IVA) will still apply to a scheme like this. Though I doubt the ATO would be too keen to go after a retiree with minimal taxable income..
