O/T -
Tax loss selling - The following is from Motley Fool's website - which is their financial advice not mine -
which indicates to me that if you want to repurchase a stock you've sold just before the end of the FY for tax loss purposes -
to have it treated as NOT being a wash sale -
don't repurchase IT within the 30 to 33 days (that you suggest) from the start of the new FY.
https://www.********.au/2022/06/27/atos-brutal-warning-to-asx-investors/I apologise to any traders who may have become confused by my posts on this subject - on this Thread -
perhaps I should have never posted anything in the 1st place.
And I
guess now that the ATO intends this year to follow up traders who they suspect have been "wash selling", with significant $$$ -
may be procuring
Chess Holding Statements from Computershare or whoever, for the months of June & July, for those traders.
IF the ATO does that, then
@HungHing - you having respectfully responded previously to my 1st post on the Tax Loss Selling subject -
I would expect that the ATO will use the dates per
those C/Holding Statements (for the tax loss sells & re-buys of the same stock)
rather than the dates used by taxpayers for determining buy & sell trades in their tax return paperwork.
IN THIS REGARD
I note - from
my ComputerShare Chess Holding Statements - for my trades in May - that the dates ComputerShare use are
Settlement dates
NOT
Trade dates.
I no longer use a professional firm of Accountants to do my trading Company's Tax Return - but obviously suggest you - & other posters who've either Upvoted my earlier posts, or not - consult yours if you use one, but if not, & don't want to,
then perhaps what I've said so far, might be worth considering, if not too late.
I hope I've not set another cat amongst the pigeons. Best of luck to you all.
