I called the Tax Department about this a couple of years ago and they told me you could sell and buy back your losing shares. Even if you buy them back there is no guarantee they will go up. I have a big loss on Telstra and want to offset this on some of my gains for the year. I think the main issue is if you sell and buy them back in a short period of time. Also if you buy back exactly what you sold. I was thinking of putting the money into another stock and maybe buying back when the outlook improves. If it ever does!
