I am having a blonde moment.....

[insider]

I'll give you an opinion that everyone else gave me... Sell now... Shares are too risky... get a degree, a good job and work hard... very hard. Then you can buy a house, have kids and bring food to the table. Shares are just like gambling... <<<<I hope you don't believe this nonsense. Sorry but just reading other posts gave me flashbacks. LMAO. Cheers

 

[Realist]

I'll give you an opinion that everyone else gave me... Sell now... Shares are too risky... get a degree, a good job and work hard... very hard. Then you can buy a house, have kids and bring food to the table. Shares are just like gambling... <<<<I hope you don't believe this nonsense. Sorry but just reading other posts gave me flashbacks. LMAO. Cheers

Which posts exactly inspired you to post this? I hope not mine...

I was told not to swim after eating, I may get cramp and drown. Complete bollocks of course

 

[2020hindsight]

Because my wife is (sometimes) blonde - I have to refer to them as bad hair days.
Overheard in Buckhingham Palace
"Oh Phillip dear, Im so perplexed another bad heir day
Young Charlies has gone and "scotched it up"
as granma used to say
If only he'd act proper, - I would blame that bloody school
for the proper bloody charlie that will follow us to rule." :nono:
PS You know this site is going downhill fast -
nobody takes anything seriously, and who nose where it will end up !!

 

[Duckman#72]

Thanks for all the advice people, seems like a loss might be the way to go. However, if I dont have any other CG this year (ie dont sell any more shares!), I might take it as a Gain, just in case the accountant sees it as an opportunity to give me some (more) grief!

Hi Prospector

Why pay tax before you have to: tax deferred is tax potentially saved

The worst case scenario if you take the gain this year - you will pay tax.

The worst case scenario if you take the loss this year - you will be able to carry forward the losses for when you sell your others for a gain.

Regards

Duckman

 

[2020hindsight]

hell Prospector - take the loss - think on the bright side, it might fall to 10c and then you can get a loss two years running Think of the tax refund!!
- heck I wish I could be serious - but I just find it gets so bloody stressful! but surely your tax refund will earn interest in the bank - maybe buy you a pair of blonde earrings?
PS I'm not sure that Realist is qualified to comment on matters blond :hammer:

 

[2020hindsight]

OK, here's the story. I bought some shares at around 90 cents, then this share went crazy for about 2 weeks due to some market manipulation and potentially innaccurate market announcements.

...So I bought some more of these shares at the higher price (around $5). The share price rose to $10 then kerpow - trading halt for days and days.

Prospector - I find this a ringing endorsement for the concept of market manipulation and inaccurate announcements. The mistake you made obviously was believing the stuff!!
________
Lord please let me live long enough to manipulate the market just one stock, one cent on one day
PS an honest man is the noblest work of God/Bhuddha/Allah etc

 

[GreatPig]

Prospector,

Is the gain in the company and the loss in the super fund or vice-versa - or perhaps some of each in both?

Normally I'd always sell the ones with the highest purchase price first, as that minimises the gain or maximises the loss, assuming you can carry losses forward (which you usually can).

Also, if the gain is in the super fund, you may want to hold those ones to get the lower CGT rate after 12 months. If the gain is in the company, then it doesn't matter as you can't get the CGT discount anyway.

As Duckman said, why pay tax before you have to? The only time I'd consider taking the gain is if I couldn't carry forward the loss (which can happen if the company is owned by a trust due to the trust loss provisions).

One unrelated thing I'd ask though is why are you investing in capital growth assets in a company structure? You're denying yourself access to the 50% CGT discount.

My accountant thinks I trade too much anyway

You need to be a little careful there or you may get classified as a trading business, which will change your tax situation completely.

Cheers,
GP

 

[nelly]

sorry prospector you r using the wrong eye.........
always cheerful

 

[nelly]

just perusing the boards.....sorry everyone[prospecter] cancel the last statement i made.......sheesh where did that come from [mayb 2 many wines]
cheers

 

[Prospector]

Hey Nellie, can I have some of what you are having

GP - when I say a lot of trades, I mean around about 30 buys and sells a year - so less than 2 a month, and most of those are buys for accumulation. I have a very, er, conservative accountant! So think I am OK there!

Tech A - I have done that too - sold before thinking about the dates! Doesnt matter in the Company structure as it is always 30%, but ouch in the personal account.

CDU have actually been very good to me, and in my trading the best shares have been those my accountant hasnt heard of! Until now! PDN at 11c (now over $5), BTA at 55c and went to over $2 and sold, AWE, BDG, TZN etc. These have all been excellent buys for me. I am well ahead of any losses!

Of course the blue chips have done fine too (WOW, ANZ) but at their entry price it isnt like you can buy that many of them. Whereas there is money to be made with the lower price speccy shares, you just have to accept the risk. And so far, this has worked for me.

The software I use for tracking the portfolios has as its default, selling the shares to maximise CG. Which is why I posed the question in the first place, as I thought it would have minimised CG as its default which questioned my thoughts.

My mantra now : Take losses, hold gains!! Defer Tax! Thanks to all who seem very much in agreement - now there's a first (although Realist I think you are off beam with CDU AND YOU GIVE BLONDES A BAD NAME! : )