Slick & Hittman, and others with input on my question - thanks...

Slick & Hittman, and others with input on my question - thanks for your patience on this.

I think i understand but i may have asked a very vague question, not to do with CGT per say - Im with the idea you earn more you pay more tax, but the 12 month CGT discount is what im trying to understand from a view of its benefit's.

IF? - i hold a parcel of 500,000 shares for over 12 months - once i sell i qualify for the discount.

After holding 500,000 shares for over 12 months and not selling any of them - What if i buy more, then sell the next day for a profit, the exact amount i bought the day before.

If i can make a few thousand dollars with the quick trades here and there thats one option - But, if a take over offer or some huge announcement is dropped im wondering if the few thousand dollars i can make trading this is worth it if with CGT discount benefit which may be in the 10's or hundreds of thousands.

So, does my original parcel of shares which i have held for over 12 months still qualify for the CGT discount, even though i haven't sold them prior to buying more then selling them (trading them) - does the 12 month timer start again.