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End of year taxable income calculation, page-2

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BabaRoga_space

4,571 Posts.

532

02/06/19

08:24

Post #: 38865034
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Originally posted by dale76: ↑

Hi all,
Can someone help me with profit calculation for end of tax year.?
If i purchased 100 000 shares at different time between 1.7 to 30.6 and i sell 20 000 shares in same year and then rebuy again 20 000 shares.
Do I pay tax on those 20 000 shares what I sold or i need to take average price of shares purchased in that tax year and average price of shares sold , subtract difference and calculate profit or loss and then pay the tax ?
any help to understand this is appreciated
thanks

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Talk to tax accountant or call ATO for guidance.

Especially since it looks like you might have engaged in some share wash tactics.

GL
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