High Volumes...... Heading North., page-149

Hi JSB
Everyone is different.......if you purchased over 12 months ago then sold and made a profit you use the shares that are the oldest to calculate....also you may sell and buy share back either side of end of june if you believe the stock may stay static ...you pay capital gains on any stock you trade within 12months of 49% on all profit less your cost and any other losses you had for the financial year..
if you held stock for more then 12 months then the rate i believe is 22% less any costs or other taxs losses for the year.
allway,s remember also CAP tax is a credit tax so if you pay the tax for a profit this year, then you can use it for losses in the following years.assuming you have losses the tax is calculated against all your other expenses and income in that same year.
also you can roll CAP tax over into a like business ...best to speak to an accountant who understands it fully and believe me a lot say they do but they don,t one of the reasons a lot of people do not play on the ASX in this country is due to Taxes here absolutely a rip off does nothing to support the long term viability of companies makes it hard for people to want to invest here , one of the major reasons people put their money in banks which is another con i wont go into. in most other countries you can pay 2.5% tax going in nothing coming out in NZ no cap tax.....i hope this helps a little always do your own research though......cheers