Im probably telling most what they already know but just had a 5 minute chat with my accountant which im sure he will charge me $100+ for - so hopefully others can benefit from this
Accountants please correct me if I am not accurate with this
He said that that 100% of my profits from share trades is added to your taxable income if you buy and sell within 12 months of your purchase and only 50% is added if you sell after 12 months.
Its interesting from the perspective of setting a sp sell goal particularly if you are only a short term holder like myself as in essence I am donating about 35% tax on my profits to the government if I sell before June this year.. .. Much less if I sell after the 12 months expire.
Just interesting to know from a planning perspective
Main thing is to ALWAYS seek your advice - best of luck with it!
88E Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
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