Interesting article by CMC. It explains why there are folks dumping shares this close to EOFY. Also explains why BC8 SP is so low. Their loss is my gain.
2. Understanding wash sales The ATO prohibits the activity of ‘Wash Sales’, which typically involves the disposal of shares just before the end of the financial year, and after a short period of time, those shares are repurchased again. Wash sales are a form of tax avoidance that the ATO is focused on during tax time as taxpayers tend to artificially increase their losses and reduce gains or expected gains to obtain an unfair tax advantage. Before selling any assets, make sure they no longer fit your investment plans and that you're okay with not repurchasing the asset soon.
BC8 Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
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