My SMSF in PENSION phase holds BHP...(my 4th largest holding)
I am comfortable with that level of holding
However, it is my understanding that it will be beneficial to me to sell off-market then buyback on-market, because the full refund of franking credits will mean I make a profit.
(unless BHP moves up too much in price before I buyback)
I just checked the BHP ann.
Just running some figures up here for discussion.
Assuming current SP $46..applying full 14% discount.
Using $0.28 as Capital return, rest as FF div
$46-14% = $39.56 - 0.28 (capital return) = FF Div $39.28
Return to 0% SMSF pension holder =
$39.28 + ($39.28 x 3/7= $16.83 (credit)) + 0.28 (capital) =
total $56.39
ie approx $10 above current market value, quite a tidy profit on 2000 shares
I would be wanting to buyback on-market at the best time to get them at the lowest price I could asap.
Any thoughts on when that might be ?, or poke holes in my numbers?
Finally, as far as I know, the ATO has no problem with an immediate on-market purchase by holders ie they dont classify as "wash-sale"
I will clarify with my accountant, but its good to hear a few opinions first, so I can ensure I ask the right questions for his expensive time
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