Buying, holding, selling shares TAX!

[Ko Ko]

Hey all,
I have been holding shares for a while now. Approx a year and was thinking about selling shares. I am not sure how this tax thing works. For example I buy a 10000 shares for $1 then sell it for $2 in one year will I recieve $20000 net. Or would capital gains tax come in straight away and I would only be recieving $15000? I am really unsure about this. Does anyone have a reference they could refer me to in order to gain a better insight with tax etc.
Also I heard if you hold a stock for 45 days more before ex div and sell on ex div day you will gain full franking credits?
Thanks in advance.

 

[Judd]

Re: Buying,holding, selling shares TAX!

Read

http://www.ato.gov.au/individuals/pathway.asp?pc=001/002/026&mfp=001&mnu=5060#001_002_026

Research, read and scan through

http://www.ato.gov.au/SearchResults...=10&si=001/002&kw=franking&go.x=0&go.y=0&go=1

Problem solved.

 

[GreatPig]

Re: Buying,holding, selling shares TAX!

Also I heard if you hold a stock for 45 days more before ex div and sell on ex div day you will gain full franking credits?

By my understanding, this rule is only applicable if you get more than $5,000 in franking credits per year.

GP