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Hi Jay-684

I agree with doctorj's comments.

In addition, if I understand your original post correctly, if you sold your entire portfolio this year and booked a $60,000 profit then when you add that to your approx $21,000 income from other sources, your total taxable income for this year would be approx $81,000 (not including any other income or deductions you might have) and so your tax rate would be higher than just the 15% or whatever it is are now for income less than $21,000. (see the ATO web site for current tax rates). ie...I doubt very much your $60,000 capital gain would be taxed at 15% this year as your final tax rate is determined on your total taxable income for the year (salaries, wages, interest, dividends, cap gains etc etc)

But I am not a tax adviser or tax agent, so please take this as a guide only and speak to your own tax adviser or the ATO directly before acting.

Good luck

bullmarket

<blockquote data-quote="bullmarket" data-source="post: 28277" data-attributes="member: 2453">Hi Jay-684I agree with doctorj&#039;s comments.In addition, if I understand your original post correctly,&nbsp; if you sold your entire portfolio this year and booked a $60,000 profit then when you add that to your approx $21,000 income from other sources, your total taxable income for this year would be approx $81,000 (not including any other income or deductions you might have) and so your tax rate would be higher than just the 15% or whatever it is are now for income less than $21,000. (see the ATO web site for current tax rates). ie...I doubt very much your $60,000 capital gain would be taxed at 15% this year as your final tax rate is determined on your total taxable income for the year (salaries, wages, interest, dividends, cap gains etc etc)But I am not a tax adviser or tax agent, so please take this as a guide only and speak to your own tax adviser or the ATO directly before acting.Good luck <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile&nbsp; &nbsp; :)" loading="lazy" data-shortname=":)" />bullmarket</blockquote>

[QUOTE="bullmarket, post: 28277, member: 2453"] Hi Jay-684 I agree with doctorj's comments. In addition, if I understand your original post correctly, if you sold your entire portfolio this year and booked a $60,000 profit then when you add that to your approx $21,000 income from other sources, your total taxable income for this year would be approx $81,000 (not including any other income or deductions you might have) and so your tax rate would be higher than just the 15% or whatever it is are now for income less than $21,000. (see the ATO web site for current tax rates). ie...I doubt very much your $60,000 capital gain would be taxed at 15% this year as your final tax rate is determined on your total taxable income for the year (salaries, wages, interest, dividends, cap gains etc etc) But I am not a tax adviser or tax agent, so please take this as a guide only and speak to your own tax adviser or the ATO directly before acting. Good luck :) bullmarket [/QUOTE]

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