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Hypothetical mode... (appreciate none of us are tax advisors) I...

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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 0.7¢		Change 0.000(0.00%)		Mkt cap ! $15.18M

Open	High	Low	Value	Volume
0.7¢	0.7¢	0.7¢	$2.714K	387.6K

Buyers (Bids)

No.	Vol.	Price($)
19	7450675	0.6¢

Sellers (Offers)

Price($)	Vol.	No.
0.7¢	612313	1

View Market Depth

No.	Vol.	Price($)
19	7450675	0.006
6	5209300	0.005
4	1089475	0.004
1	600000	0.003
1	1000000	0.002

Price($)	Vol.	No.
0.007	612313	1
0.008	9215551	12
0.009	5196221	10
0.010	1490319	3
0.011	2090000	6

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