options only thread mayo, page-274

Someone here mentioned they were waiting until after the 30th June to convert options as there was a benefit in tax management.

Any opinions on this one? I understand that the 12 month clock on CGT discount starts the day you convert the options to heads.

If you buy the MAYO for 1c and convert is to a share for 3.5c then your cost base is 4.5c correct? If you sell it for 14.5c less than 12 months after you convert it then you pay tax on the full 10c gain. If you sell it for 14.5c more than 12 months after you convert it then you pay tax on 50% of the 10c gain.

Can't quite understand why you would wait till after 30th June to convert? Unless of course you are selling some to pay to convert the others...