(hope they've read the ATO rules on wash trades and capital loss events)
Selling for a tax loss is 100% legal. The illegal part is buying back the same shares shortly after.
"Wash sales typically involve the disposal of assets such as crypto and shares just before the end of the financial year, where after a short period of time, the taxpayer reacquires the same or substantially similar assets. This is a wash sale and is done to create a loss to offset against a gain already derived, or expected to be derived, in certain circumstances, in a tax return."
https://www.ato.gov.au/Media-centre/Media-releases/Wash-sales--The-ATO-is-cleaning-up-dirty-laundry/
Trading a share based on changes in material information, such as ASX announcements, is permitted.
Ann: Business Update Continuing to Execute on the Plan, page-179
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Last
$2.89 |
Change
0.170(6.25%) |
Mkt cap ! $3.773B | |||
| Open | High | Low | Value | Volume |
| $2.76 | $2.92 | $2.75 | $50.19M | 17.52M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 328775 | $2.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.90 | 192249 | 9 |
View Market Depth
| Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |