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Ok that makes sense, thanks for that Lomu.

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Frog76

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22/06/19

08:01

Post #: 39184991
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Originally posted by Lomu: ↑

You'll need to pay Capital Gains Tax. Let's go through this.

Let's say you buy 5,000 shares at a dollar a share in XYZ Engineering Company. They invent some awesome widget, and the share price goes up from a dollar a share to five dollars a share. So you cash in by selling 1,000 shares.

You've made a profit of 1,000 shares x $4.00: $4,000

You need to provide this figure to your accountant, or put it into your tax return so as the govt can decide on how much you owe them. I don't know the exact figures (esuperfund does all my numbers) but you certainly do have to account for it in your tax statements.

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Ok that makes sense, thanks for that Lomu.
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