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Ah,Thank you. If you are unable to use the normal process of...

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boomeronrations

6,473 Posts.

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22/02/23

22:19

Post #: 66406856
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Originally posted by 1stPrize: ↑

just as a joke then.....

wash is not ur problem. holding period rule is the hang-up..... 45 days (as u say) ..... it uses last in, first out irrespective of what method u use for taxable profit/loss calculations.

2nd parcel is not deemed to have been held for 45 days.... so no franks.... but u have to tell ato as it is the registry that puts that money in ur entity name at ato and says it did that on divvy paperwork ....... so that franking is just waiting at ato for a "home".

u have to tell ato that the money home is not u...... many forget perhaps to do that

end joke.

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Ah,
Thank you.
If you are unable to use the normal process of designating which parcel is being sold , then that will be the killer.
Do you have a pointer to where the wash rules state that first in , first out is compulsory.
I obviously missed it as I was devising my cunning plan .
Cheers
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