Running discussion on SP, page-2747

Tax really shouldn't be a concern for the majority here, given it sounds like most of us have held shares in WBT for at least a year already. As a result, we only pay 50% of our effective tax rate (so if the tax rate is 30%, the CGT is only 15% of profits). The focus should be on continually assessing the investment and whether or not your thesis is still intact. It is always good to write down your thesis with a particular investment, and a clear exit target (e.g. a particular level of sales, a particular profit margin being achieved etc). If you worry about tax you are almost certain to sell too early or too late, and the difference in the effective tax rate will end up being far less than the actual capital gains forfeited as a result of focusing on tax rather than sticking to your investment thesis