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02/06/19
12:23
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Originally posted by ddzx:
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your sale of 20,000 shares must be reported for tax you can choose the shares that were sold for your costs base FIFO (1st in 1st out) will not apply if you have an ordinary share trading account with proper records ' for example: 1/10/18 - 50,000 XYZ shares bought for 20 cents each 1/11/18 - 50,000 XYZ shares bought for 30 cents each 1/3/19 - 20,000 XYZ shares sold for 40 cents each you could choose 20,000 20 cents shares as your cost base; or you can choose 20,000 30 cent shares as your cost base; or you can chose any combination of 20 cent & 30 cent shares (eg. 14,000 20 cent shares and 6,000 30 cent shares) as your cost base it all depends on how much tax you wish to pay if you choose 20 cent shares as your cost base then you pay more tax this year if you choose 30 cent shares as your cost base, then you pay less tax this year but must be prepared to pay more tax next year (unless the share price falls) o
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ok so this is actually whats happened when i sold and bought in same financial year. how would you choose cost price vs sell price of those shares and what is a profit what i made? i really appreciate help as i dont understand it correctly thanks