How amazing that the ATO set the rules, and then they set another set of rules to stop people practicing by the rules that they set.
Would they do the reverse and reduce your capital gains if you sold for a profit and then bought back in less than 30 days?
Do they make people who sold on the first few days of the financial year retrace their profits into the previous year?
Of course not!
Why shouldn't people be able to realise a loss if they are in a position to do so?
And buy back when they want.
If the ATO aren't happy with the way the financial year is structured, do something about the rules but don't penalise the everyday people.
Wooo Hoooo Go MAY :)$$$$$$$, page-1787
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