LIFO is strictly forbidden. You can specifically choose which...

  1. wot
    10,285 Posts.
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    LIFO is strictly forbidden.

    You can specifically choose which units you disposed of.

    Your "intentions" having regard to the 12 month holding period would indicate your'e entitlement to the discount. If this is also only a secondary income source it would seem in little doubt. The ATO wouldn't be keen to class such activities as "trading income" as it would entitle you to realise losses during a FY without actually selling etc.

    CGT is liable to drive me to leave this country.

    Swiss banks might drop you in it in the near future as they are eventually forced to share the dirt. Rivikin might finally then get a real inside trading conviction. Although there is so much dirty money out there I doubt the big boys will ever allow this to happen.
 
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