I have been trading now for many years and have conducted the annual clean-up of my portfolio on the dud stocks that have accumulated in the portfolio creating an ongoing capital loss amount.
I would now like to sell down a proportion of my portfolio to allow me to hand down the proceeds to my children to pay off their HECS debt and possibly take a few extra bob for the wife and I to have a holiday.
To enable me to determine with reasonable accuracy the amount to sell down I need to do some calculations as I don't want to create a situation where as I have a big tax bill to pay at the end of the financial year.
My question is how does one know what their total Capital Gain/Loss balance is.
Is it as simple as writing to the Tax Office and requesting them to send out the current balance.
