General Discussions, page-1547

Went through our finances with our accountant just last week. With shares, if you sell within 12 months of purchase then it attracts CGT on the total profit. After held for 12 months, we are taxed on 50% of the profit. Our shares are in joint names. If say we make $1,000,000 profit after holding for over 12months, then $500,000 is mine and $500,000 is my wife's. $250,000 is not taxable for either of us. Therefore $250,000 is then taxable for each of us. It works out at around $83,000 each tax. We would finish up with $834,000. (I do not have any super accounts)