i.o.m last word on this tax thingy, according to the ATO & my accountant (I have just spoken to both), it is the contract date that is used and not settlement date for CGT, so buying & selling up to close of 30/06 is fine, but in my case as a trader who earns income its the opposite, so I stand by what I said earlier "as far as my accountant is concerned yesterday was the last day for any trades as they settle 30/06 to qualify for 14/15 tax returns." But if I buy/sell on 30/06/15 the settlement date would fall into a new tax year (15/16) and therefore stuff up bank reconciliation & inventory. So in saying that either way is correct but I would suggest you speak to your accountant to see what suits your individual circumstances.
- Forums
- ASX - Day Trading
- Daytrading June 26 afternoon
Daytrading June 26 afternoon, page-7
This thread is closed.
You may not reply to this discussion at this time.
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
WCE
WEST COAST SILVER LIMITED
Bruce Garlick, Executive Chairman
Bruce Garlick
Executive Chairman
Previous Video
Next Video
SPONSORED BY The Market Online