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Funkmasterjimmy

734 Posts.

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13/06/18

15:57

Post #: 33685207
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Originally posted by Darkstone ↑

Good plan - but remember from a tax perspective it is FIFO - First in, First out - so the tax man measures your profit from the oldest parcel not the highest cost parcel (assuming you are in Oz). That is, you are assumed to have sold the oldest parcel you still have each time you sell. There are special situations where you can be allowed to use average cost for a short period, but they are exceptions based on data record availability, not an actually approved/official pricing strategy. This is how pre-tax selling works. You might have a bunch of shares that you bought at a range of prices - some higher than today, some lower than today, and be showing a profit on you average cost value, but when you sell today you record a loss for tax purposes because the oldest shares you have were bought at a higher price than today. Also vice versa (obviously). In the former case you would be bringing the loss forward into today's tax return and transferring the profit into tomorrows tax return - and vice versa in the opposite case.

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There are reports coming out of the USA today that the car industry there intends to source lithium and other battery minerals locally which is leading to the global sell down of lithium. Just another attempt to scare investment in and lower lithium prices moving forward. Geez their good.....
will try to post some links asap

GXY Price at posting: $3.22 Sentiment: Buy Disclosure: Held
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Chart, page-8595

Top Stories

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Pointerra wins US$1.63M from US Dept of Energy to model climate change scenarios

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Microcap Wrap: 5 explorers with news out today

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

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