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clock Created with Sketch. 13/05/21
21:15
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Originally posted by Jane2600:
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Got in at $1.60 on personal trading account, had seen it down to $1.2 then fly to $20. Now my gain had reduced by $1m, it hurt emotionally by let's look at the silver lining, just smaller paper value. Did not sell last year as both of us still working full time, would had paid hundred of thousands of CGT. Anyway, at this price is great opportunity to transfer at least half to my SMSF, if SP goes to $5 just need to recognise CGT of $3.4 per share at the time of transfer, less 50% discount after other loss offset, should be pretty small CGT to pay this year and next financial . Hubby turn 60 next year April, I still have 3 years to go , by then when SP recovered, practically save all the CGT when convert to pension fund. Just a thought for using this slump time as tax planning opportunity if you are close to retirement.
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should have sold and paid tax
(20min delay)