A side issue DavidPage. If the ato treat you as a trader there is no discount as they are trading profits/losses, not capital gains. Just like the shopkeeper who buys stock - just because he doesn't sell it twelve months, doesn't mean he gets the cgt discount. Suggest you keep separate accounts for trading as opposed to longterm holds. If you make a capital loss it can only be written off against a capital gain, not a trading gain. Confused?? Try being an accountant!
