Hi All, Anyone ideas on the following appreciated. There has to be a fallacy in my reasoning somewhere. I understand that any replies I receive are for entertainment purposes only.
I have 4000 ANZ shares [ in my super pension fund for 6 months] , I buy 4000 more just before they go ex-divi . So , assuming a 70c divi , , I am entitled to $5600 cash divi , plus $2400 franking credits .
Now , if I sell the 4000 shares I have owned for 6 months [ greater than 45 days] ,when it goes ex-div ] , and keep the recent ones , have I sidestepped the 45days rule? So becoming entitled to the franking credits from 8000 shares, despite only having 4000 shares at risk for all but a few days?
This scenario makes the assumption that the fund generates 20k of franking credits elsewhere.
