First and foremost, sorry for the outcome, it's heart wrenching....

OriginallypostedbyGone_west

Team-Ihaveagripe,whichwouldnotbenewandmanyhaveraisedbefore....

So,Iwassittingonpaperprofitsofover$100k,onholdingsIhadforlessthan12months.

Ithought,Iain'tgivingthetaxmanhalfofthat,whenIincuralltherisketcetc...alreadypayIncometax,paymyownchildren'sschoolfeesblahblahblah.

SoIholdoutforthe12monthstogetthe50%CGTdiscount,but,sadlyarenowonlyleftwitha$300paperloss.

Now,manywillthinkI'mcrazynottotaketheprofits,that'sfine,it'sprofitnotcapital,andIamconfidenttomakeitback?

SurelytheCGTsystemcanbeviewedasflawed?,asIWouldhavetakentheprofitintheabsenceofaCGT,andhappilypaidtaxatmytopmarginalrate,benefitingmeandthegovernment,awinwin.

Obviouslynowitisaloose/loose-Iknowwhatmanywillsay,However,thepointIamtryingtomakeisthetaxsystemseemstobegearedtopenalisethosewantingtomakeanefforttoinvestingrowingcompaniesandbenefitthemselvesandalsocontributea'fair'sharebacktothegovernment.

Acrazyworld.

First and foremost, sorry for the outcome, it's heart wrenching. I look at it this way: by waving 50% off the base of your gains by holding the shares over 12 months what the government is doing is incenting some sort of stability in the market.