Australia's largest stock trading and investment forum Australia's #1 stock forum

End of year taxable income calculation, page-2

First 2 Last

Share
Profile

Follow
BabaRoga_space

4,571 Posts.

532

02/06/19

08:24

Post #: 38865034
Share

Originally posted by dale76: ↑

Hi all,
Can someone help me with profit calculation for end of tax year.?
If i purchased 100 000 shares at different time between 1.7 to 30.6 and i sell 20 000 shares in same year and then rebuy again 20 000 shares.
Do I pay tax on those 20 000 shares what I sold or i need to take average price of shares purchased in that tax year and average price of shares sold , subtract difference and calculate profit or loss and then pay the tax ?
any help to understand this is appreciated
thanks

Expand

Talk to tax accountant or call ATO for guidance.

Especially since it looks like you might have engaged in some share wash tactics.

GL
1 Upvote

Reply

Top Stories

ASX Market Close: Iron ore prices stay strong; US CPI data due Tues night

USL

'Defining moment' for Unico as miner expands Joaquin's mineralised footprint

ASN

Last hurdle for Anson's Green River plant as Korean partner looks over brine

AII

Inside the depths of Panasqueira: A legacy carved in rock

Listen: HotCopper Wire Podcast 017 – RBA holds the toppings

First 2 Last