Here's the thing. I've spoken to my accountant and a few others with years of ASX investing experience.
I ASSUMED the CGT credit was automatic IF you held your shares for 12 months or more. What I've been told is IF the ATO classifies you are a "trader" for say 1-3+ years...you then need to "convince them that you're no longer a "stock trader" but "INVESTOR".
I'm a little ticked at this as I assume the 12 month CGT credit was locked in stone. I'm told the ATO views your case on a case by case basis, which I think is wrong.
Either there is a 12 month CGT credit. Or there's not.
(Also, what if you have 1 stock for 12 months 10-50% of your networth and trade 50%+ the rest?)
