re: great nickel broker report out - tax loss-ing Thank you for...

re: great nickel broker report out - tax loss-ing Thank you for the reply Dolphin. What if the same stock is bought back the next day at a lower price. What if it is bought back the same day? Suppose the sell and buy back makes a profit of just $10 or even no profit or perhaps a slight loss. Can the tax man object?

Infact, in a this falling and erratic market a difference of just half a cent downwards can cover the cost of commisions (eg $20 each way with Commsec) and so earn a big tax loss for Ni shares (many down 40% but sure to rebound). I just have this irksome feeling that the tax department can cause loss-sell-rebuyers grief on their tax avoidance activities.