AVZ 0.00% 78.0¢ avz minerals limited

Amended as I went too fast in my first response and too focussed...

  1. 2,113 Posts.
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    Amended as I went too fast in my first response and too focussed on being a smart____

    General comment only because I don't believe you and I just have to bite...

    Sell 10,000 on 1st July and use the proceeds to hire a proper tax accountant.

    Assumption - they're in your personal name.
    Assumption - you bought over 12 months ago.
    Assumption - you bought around 10c.
    Therefore - profit of around $9000.

    Add $4500k to your 2023 taxable income as you'll only pay tax on 50% of the gains for holding the asset for over 12 months.

    Assumption - based on the question you're not earning a high wage, but for fun let's say you earn $120k p.a.

    Tax on $4500 profit will be say $1800 - paid when your 2023 tax return is lodged and assessed, eg: 31 October 2023.

    Take $5000 and pay an accountant (NOT a financial advisor) on how to setup the rest.
    Take the $1800 allocated for tax, re-invest in AVZ and sell some time in Oct 2023 for $3 and let the cycle repeat.......
    And the balance? ($9k less $5k less $1800 = $2200. Take a week off and fly somewhere..

    TC.

    AVZ - the life changer.
 
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