Australia's largest stock trading and investment forum Australia's #1 stock forum

GRY

Click for more information

0.00%

20.5¢ gryphon minerals limited

Thanks Loki. That's exactly the way I have been doing (FIFO)....

First 34 Last

Share
Profile

Follow
Fangk

1,303 Posts.

56

20/06/16

13:06

Post #: 18073544
Share

Originally posted by loki01 ↑

Sorry Fangk, best to get advice from your accountant.

But I would have thought this was not short selling.

It is just trading in and out of shares within 12 months, and then buying in again - so no capital gains discount available to you for the initial sell transaction. Basically you would pay tax on the profit of the initial transactions (A and B), and C would be just a separate buy transaction.

If you buy a parcel of shares and then another equal parcel of shares and subsequently sell one of those parcels then you do have the option of deciding which of the two parcels you bought would be counted against the sale when determining profits/losses. To do this you must properly record your transactions for each parcel. Most people use a FIFO (first in, first out) approach to their transactions on shares, and if you deviate from that then must keep good records.

loki (hope this helps)

Expand

Thanks Loki. That's exactly the way I have been doing (FIFO). Just came up with this self-shorting idea because sometime the time between A and B could be quite lengthy (e.g. 9 months ) and it's worthy to reserve A lot for a 12 month tax concession. If I find some solid answer I will be posting back. Cheers

GRY Price at posting: 16.5¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

Yellow wonders: 3 global uranium companies to add to your watchlist

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

AXN

Rising demand, China's 'tech war' bans leaves this germanium explorer with significant investment potential

There are more pages in this discussion • 9 more messages in this thread...

First 34 Last

Add GRY (ASX) to my watchlist