YAL

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$6.23 yancoal australia limited

I’d say you need to go by the contract dates and not T+2 dates....

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datto

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20/04/24

12:08

Post #: 73437179
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Originally posted by ainsleym: ↑

Here is a cut and paste from the Australian Tax Office website concerning the holding period ( the 45 day rule) to get the franking credits. I truncated it a bit but the essential two sentences are below

QUOTEHolding period rule
The holding period rule requires you to continuously hold shares ‘at risk’ for at least 45 days (90 days for certain preference shares) to be eligible for the franking tax offset. However, under the small shareholder exemption this rule does not apply if your total franking credit entitlement is below $5,000. This means that you must continuously own shares ‘at risk’ for at least 45 days (90 days for certain preference shares) not counting the day of acquisition or disposal, to be eligible for any franking tax offset.
UNQUOTEMy comments are that suppose the day you buy the shares through your broker or trading platform is called Day 1. This day will not count towards the 45 day period. Similarly the day you sell the shares will not count towards the 45 day. So therefore it is necessary to hold for 47 days from and inclusive of Day 1.
What is not clear to me is, technically speaking, what is meant by the day of purchase or sale from the ATO point of view, because shares are not officially registered as bought or sold until T+2 on most if not all trading platforms. In any case it should not matter as if you buy on Day 1, and the shares are therefore not registered until Day 3 due to the T+2, and you sell on Day 47 but the sale is not oficially registered until Day 49, then the period Day 3 to Day 49 is still 47 days given that Day 3 and Day 49 will not count towards the 45 day rule.

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I’d say you need to go by the contract dates and not T+2 dates. That’s my opinion only, Im not qualified in any way shape or form. Could ring the the tax dept , wait an hour and then get an unqualified opinion lol.

Another thing I'm not certain about is whether the 45 day rule applies per share holding or your whole portfolio?

YAL Price at posting: $5.81 Sentiment: Buy Disclosure: Held
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I’d say you need to go by the contract dates and not T+2 dates....

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I’d say you need to go by the contract dates and not T+2 dates....

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