I know in my personal case I've been dumping shares in a few companies to secure TAX losses to reduce my realised profitable trades ..nothing against the companies just want to reduce TAX bill and forward Provisional TAX demands ... many times I just BUY the shares back ....this month is the end of the NZ TAX year ... just maybe ITM has a few tax paying NZ traders like myself that have purchased ITM at much higher levels wanting to reduce tax ...
At today's LOW 24c no one that has purchased ITM last 12month will be sitting on a profit ... I'm down $8k
I haven't thought about realising my ITM losses as I really think the SP could launch on results and didn't think I could build a sizeable position for less .... looks like from todays trading I was wrong on that..
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