30 Days is I think the accepted time that needs to expire before buying back shares that you previously sold to claim a loss against your taxable profits.
If you purchase them less than 30 after you sold you cannot legally claim a capital loss.
I'm sure many don't abide by this rule and it's only a problem if you get caught. But then it becomes a real problem.
When dealing with the ATO or IRS I find it's best to stick well within the rules. I use a 45 day interim period just to be sure.
There is also the issue of Trader vs Investor whereby the Traders cannot claim the 50% Capital Gain discount on shares held for over 12 months.
It's a walk on a tightrope sometimes.
Wooo Hoooo Go MAY :)$$$$$$$, page-1776
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Last
2.2¢ |
Change
-0.001(4.35%) |
Mkt cap ! $74.14M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.4¢ | 2.2¢ | $41.26K | 1.791M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 1303214 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.3¢ | 280000 | 3 |
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| Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
| MAY (ASX) Chart |