Hi Analyser,"Happy to hold and qualify for CGT discount in 3-4...

Hi Analyser,

"Happy to hold and qualify for CGT discount in 3-4 months and top up on weakness."

There might be a number of people shaken out after a year of holding. Lots of people sitting on profits in the +$100k area from June onwards.

On simplified maths, the CGT discount means $25k tax rather than $50k per $100k profit.

A 10% drop in price would equate to about $13k per $100k at today's prices, so still worth holding until the discount is available. I wouldn't be surprised if there is a pull back then. Of course, I'm hoping that things will have moved forward in the interim and the pull back is to a position ahead of todays price.

Fortunately for me, I am in a tax free environment here in Arabia and so I was able to bag some profits without CGT considerations. My remnant holding is free carried and in the bottom drawer and I'm pretty pleased with the performance of Eng where most of the realised profits were dumped.

Profits to one and all.

Regards,

Keith.