Yes you should speak to your accountant.
On the scenario you suggest you start with $10 you invest the $10 twice each time making $5 profit you now have $20 so you will be taxed on the total profit of $10.
The rate of tax will be determined by your marginal tax rate and whether you are entitled to claim the 50 % capital gains tax concession because during the time between buying and selling a period of 12 months or more has elapsed.
In speaking to your accountant you may wish to discuss whether there may be sense in having a a non earning dependent spouse buying and selling such shares as they would potentially have available the full tax free concession which was in the order of $22,000 per annum.
If you intend to seriously involve yourself in share trading the speaking to your accountant before you start is a must.
My opinion only DYOR.
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20.5¢ |
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Mkt cap ! $380.4M |
Open | High | Low | Value | Volume |
20.0¢ | 20.5¢ | 19.3¢ | $1.524M | 7.685M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
20 | 721709 | 19.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
20.5¢ | 776034 | 19 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
20 | 721709 | 0.195 |
68 | 2220287 | 0.190 |
29 | 1168092 | 0.185 |
52 | 1586980 | 0.180 |
11 | 495900 | 0.175 |
Price($) | Vol. | No. |
---|---|---|
0.205 | 776034 | 19 |
0.210 | 1190443 | 14 |
0.215 | 396219 | 14 |
0.220 | 768276 | 22 |
0.225 | 592837 | 17 |
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