next hour, page-14

wisdom, i agree with you entirely on getting some tax advice before you rid yourself of part of an entire holding. i believe you are able to nominate once only whether you are going to use the last on first off method or the first on first off method, when you sell your first parcel of shares that attract a capital gain or loss. this decision will apply to all your future trading in the eyes of the taxman. they will not allow you to pick and choose which part of a holding you sell on each individual trade. i contacted my accountant (a cpa) before i sold a partial holding in another company a few years ago and this was advice i was given. it was very handy to know upfront as it can really affect the tax take and your decision to hold a bit longer before selling (ie- 12 month discount in cgt), keep holding or sell now.
this message has been posted in good faith to hopefully assist people starting out with some basic tax info. if my advice is incorrect or outdated, can someone please let me know.
jd
ps. great to see prr in the 30's

holding- bhp, mel, lnc, prr, idl, wbc, isf