well played mate you mentioned the tax man wanting his cut , im assuming your classified as an investor can you share your thoughts on tax as an investor , trader or company , i understand how the three work i think lol just wondering how much you trade to remain investor as you do mention re entering as a possibility ive been lucky enough to be in some profitable stocks this financial year and im holding a few of these over 12 months or nearing 12 months , i generally dont enter the same stock to many times and if i do it would be at least a few weeks/months before i re enter but i do trade the odd stock in a few days/weeks if the profit is there ,i never sell the same stock in one day at this stage as i want to take advantage of the 12 month hold on others as an investor and dont want to risk being classified trader at this stage , i would like to swing trade even possibly a few times in a day to trade a portion of my stock though in the future as trader to accumulate more of the same stock if i do end up being classified as a trader how does the first financial year play out , say i have a profit of x amount and i pay my investor tax on sells for this financial year and im still holding one or two big ones , then i end up as a trader next financial year and i pay the difference of what my trading account is at start to end of financial year , in theory i could have a large portfolio and make a modest amount to pay tax on , its the transition tax im interested in how they work that out? At this stage if i sold them all i would be paying 50% gain at plus 180k 50% tax bracket which im trying to avoid i will be speaking to an accountant soon to make sure i have the right information and i wont take any advise as professional advice , just wondering your thoughts its a good position to be in I just dont want to pay more than i need to, i understand if you dont want to post tax thoughts here and i definitely wouldnt be taking it as professional advice just very interested to hear your thoughts , if you do want to help and would prefer to email me your thoughts i could provide an email address , if not all good and again well played on your trade
ADN Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
(20min delay)