Short answer yes, but it is slightly more complicated than that in terms of when you can write off losses as CGT within a given financial period, you may have to pay tax on the profit in the short term but can later claim losses towards future CGT, best to contact a tax agent or the ATO if your unsure about it.
Until recently an investment manager was dealing with all my shares and taxes, have just taken it back over so that is one thing that I am not 100% on, but have been talking to the ATO about it, because it is also based on your income tax. For example someone who is a stay at home dad/mom and earns less than $18k a year (no salary), can actually avoid CGT on shares as long as they stay within that bracket of income (this is where it gets complicated).
- Forums
- ASX - By Stock
- AC8
- Let's keep it real
Let's keep it real, page-41
-
- There are more pages in this discussion • 35 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)