"have to hold the heads for at least a year to pay less cgt on the profits" ======================================================
Yes that's right, but you are saying convert options to heads. When you convert options to heads, the date of conversion is the purchase date of the heads, not the date you bought the options.
So say you bought 100,000 options for 5c on 2/1/11 = $5000
You convert @3c on the 1/7/11 for cost of $3000. Your total cost base for the 100,000 heads are:
$5000 paid for the options $3000 paid to convert to heads
$8000 total cost for the 100,000 shares with purchase date of 1/7/11.
PEN Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
