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1SunTzu

226 Posts.

52

07/06/22

20:31

Post #: 61877920
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Originally posted by mode1971: ↑

David, alot are caught and dealt with privately. I know as a friend is involved in catching as works for ATO.

Every now and again it's made public as a reminder.

Its the ato, not asic that solely enforces as its tax slippage, not market manipulation which falls under asic.

They know exactly when we buy and sell shares. Dates.
So it's very easy to spot.

Simply if you sell to lower your tax, manipulate you'll get caught. No excuses.

They know the difference between an investor, day trader etc.

I've never been told specifics when I ask, not once over the 30 year friendship and rightfully so.

But friend warned I'd get caught if I washed. Its that simple. So I never do it.

There is no way you could argue if you sold a share, to directly lower tax and rebuy it. That it was not the intent.

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Hypothetical mode... (appreciate none of us are tax advisors)
I have shares and options in a company. The heads are at a loss as we approach option expiry but i feel compelled to convert based on conviction. I dont have the money to convert so I sell the heads and use all the proceeds to convert. Grey area? Claim the loss and try your luck?

Last edited by 1SunTzu: 07/06/22

SPQ Price at posting: 3.7¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 1.1¢		Change 0.000(0.00%)		Mkt cap ! $22.01M

Open	High	Low	Value	Volume
1.1¢	1.1¢	1.1¢	$7.942K	722K

Buyers (Bids)

No.	Vol.	Price($)
4	2176084	0.9¢

Sellers (Offers)

Price($)	Vol.	No.
1.1¢	369090	2

View Market Depth

No.	Vol.	Price($)
4	2176084	0.009
4	1584588	0.008
7	1597072	0.007
10	4140655	0.006
2	506009	0.005

Price($)	Vol.	No.
0.011	369090	2
0.012	2000319	5
0.013	1600000	4
0.014	200000	1
0.015	375000	1

Last trade - 10.12am 01/08/2024 (20 minute delay)

SPQ (ASX) Chart