Jackandjill,
No need to apologize, we are all hear to learn and share knowledge. I was referring to Division 115 of the Income Tax Assessment Act 1997 (ITAA97), in a nutshell if you are an individual and you hold an eligible CGT asset (ie shares) for more than 12 months (s115-25) then you are entitled to a reduction on your CGT gain of 50% for that CGT asset. Ie you buy BOW hold for more than 12 months and make a capital gain of say 100k than you are entitled to reduce your gain by 50% thus only paying tax on the 50k, this is why it doesn't always pay to chase short term swings that result in buying back 10-20% cheaper but triggering a CGT gain and restarting the 12 month holding period. Hope that helps.
s.loeb
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