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.
30 Days is I think the accepted time that needs to expire before...
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2.3¢ |
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Mkt cap ! $77.51M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 310691 | 2.2¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 2.4¢ | 3542587 | 7 |
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