FMG 0.45% $22.10 fortescue ltd

fmg and sell off for tax purposes, page-20

  1. 2,132 Posts.
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    GPPerth - the intent of the transaction is hard for the tax office to define. Nothing wrong with selling because you think the price is going down to buy back in lower. Even if you buy back higher then then you could say your prediction was off and you want back in. Any tax loss / gain would be incidental. I've done that numerous times during the years sometimes realising a loss and in some cases a gain. Of course if you sell on 30 Jun and buy back 1 Jul then it may look a bit suss.
 
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