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Ann: Sale of Shares by Directors to Institutional Investors, page-51

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GCInvestor

5,434 Posts.

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28/11/19

15:22

Post #: 41688316
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Originally posted by DoubleDown! ↑

Hmmm. I'm presuming that there is a 50% CGT reduction for holding the asset more than 12 months, and that the marginal rate is 48.5%, so the effective tax rate of the gain is some 24%.

And this can be applied against any capital losses carried forward or made in this financial year. And the tax incurred it's not payable until the ITR is lodged which could be as late at 31/10/20. Though most registered tax agents can lodge later, mine allows lodgement as late as March following the FY end. So any capital gains I make this month does not get lodged and paid until March 2021.

No issue with the conversion and selling of stock by directors. Nothing wrong with taking a mill or two in profits, they deserve it! I just don't buy the 'we need to do it straight away to pay the tax event it creates' argument. Of course I have no direct knowledge of their situation so this is a guess.

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We’re the same with lodging in March however I have no idea when it comes to this sort of transaction .. perhaps it’s similar to having to pay your BAS monthly ??

PCK Price at posting: 23.5¢ Sentiment: Buy Disclosure: Held
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Last 3.2¢		Change 0.000(0.00%)		Mkt cap ! $52.39M

Open	High	Low	Value	Volume
3.2¢	3.2¢	3.2¢	$715	22.33K

Buyers (Bids)

No.	Vol.	Price($)
1	2	3.2¢

Sellers (Offers)

Price($)	Vol.	No.
3.3¢	260287	3

View Market Depth

No.	Vol.	Price($)
1	2	0.032
4	284231	0.031
8	9876039	0.030
1	100000	0.029
2	838344	0.027

Price($)	Vol.	No.
0.033	260287	3
0.034	70943	1
0.036	200000	1
0.039	200000	1
0.040	190000	4

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