if your personal circumstances are right these buybacks are the safest , most profitable punt around
because most of our shares are in my wife's name and she doesn't have much salary income buying on the announcement date - for the 45 day rule - solely for the buyback make a lot of sense
the capital loss offsets any capital gains on other shares + there's a cash franking refund from the ATO in October.
watch you don't buy too many to avoid scalebacks though
for this BHP buyback , 200 shares ( BHP's guaranteed minimum) bought on the buyback announcement will leave you about $2,000 ahead if you can claim the full franking rebate and the shareprice stays up next week , as the current price means that you will get the purchase price back in cash next month even with the 14% discount with the franking refund still to come in October
$2k tax free return for a $5k investment for a month isn't bad
BHP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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