Just so we call rule a line under the cgt implications re shares...

Just so we call rule a line under the cgt implications re shares I'll cover a couple of points.
You can have trading shares or investment shares.
Trading shares, be they held for two days or two years or more, will be taxed as normal income in your tax return if they sell for a profit. Just like a shopkeeper who buys stock. He might sell some today, some next week, some next year. It is his trading stock, it is his business. He pays tax on his profits and he claims losses against any other income. If your activities are treated as a "sharetrading" business/activity, the ATO will tax you on your profits and ignore capital gains discounts. They treat it as your business, just the same as the shopkeeper.
Now from what I have said above, take another scenario. You have two "accounts" - one keeps track of your "trading" shares, the other your long term investments. For example, you may have bought prr for a short term trade, then you hold them in a trading account. You may also have BHP (not cross promoting, just an example) which you hold for dividend income and long term growth. These you would hold in an investment account. You can be an investor in some shares and a trader in others. It is best that you keep records and make a contempoaneous record of what type of holding each share is. Record it at the time of purchase. It can be difficult to convince the ATO if you are only buying non-income producing penny dreadfuls that you are doing so for a long term investment - but we all get stuck with some sometimes.
I suggest you consult your accountant for a more detailed explanation. I am one, and this just touches the surface. The ATO website (www.ato.gov.au - type in share trading in the search bar) provides a good summary of what they look at.
Essential reading I suggest for those looking at retaining as much of their profits from prr as possible.
Let's hope that prr brings us wealth and brighter prospects for cancer sufferers.