As we head to EOFY, the thoughts of young men turn to ............ minimising their current year tax bill.
Young men like those here are so romantic these days!
But we here at MAY also have another very interesting and attractive tax situation to consider - and what young man does not like an attractive tax situation.
Read here how you can made a profit and defer tax for 2 years!!!!!!!!!!!
Step 1. Buy MAY in May for an attractive price - easy to do currently.
Step 2. Hold MAY until July (ie into FY23)
Step 3. Sell MAY in July when Zapato drilling is advanced (either before target zone is hit or after it is hit, according to your taste).
Step 4. Record this as profit in FY23 (either trading profit or capital gain, again according to your preference) on your FY23 tax return to be completed in October 23 or later (according to your permissions)
Step 5. Pay tax of profit in May 24 (as your accountant will have scheduled for you)
Easy plan (tax-deferred for 2 years) IMO available to all (and profitable IMO irrespective of success of Zapato, which IMO is looking pretty good)
