OXR - Oxiana Limited

[Knobby22]

Re: OXR

Didn't sell mine but then I'm an investor and could see no reason to sell.
I have not held them for a year yet in any case and so would be very hesitant to sell and pay the full capital gains tax.

 

[Caliente]

Re: OXR

Hi Knobby, just a couple of fast questions. whats the difference between selling before a year and selling after a year in terms of CGT?

I'm pretty new to the whole shares thing although I've paper traded for years. Thing is I made a profit on JHX (sold in less than a year) and then immediately bought into another stock, when will I be liable to pay the CGT for JHX?
Thanks!

Cheers maite
- Caliente

 

[Knobby22]

Re: OXR

No worries.

If you hold an investment, stock or property, for less than a year you pay the full capital gains tax. If you hold it longer, you pay half.

 

[kesso]

Re: OXR

Caliente, as I understand, if your are trading as a business and accepted by the ATO as trading as a business, any sales made within a year is taxable income, from this you can take away the costs ie sale price-purchase price plus costs = taxable income.

If you are an individual and you sell after a year it is then capital gains, and being an individual you get 50% off the capital gains tax.

 

[Caliente]

Re: OXR

Thanks! Well I'm a student (read young and inexperienced!) and I don't really have much of an income, maybe 2-3000 per annum outside of shares. So does that mean the sale of the stock will be added to my taxable income or is it still going to be chaged at 50% of the CGT rate?

"After writing and reviewing what I've written, I'm thinking that I need to tell the ATO that trading in shares is my business. That way I can take advantage of my not paying tax yet situation."

BTW - I'm really loving this sharemarket and loving ASF. I've just dipped my heels in for real but so far everything I've touched has gone up *yay*. I think I've come in at the right time!

Cheers for the replies kesso and Knobby

 

[kesso]

Re: OXR

The first $6000 odd is tax free to Australian residents. To claim tax deductions for trading you have to be able to prove it is a business. Its a bit complicated. If you can, revenue then from trading is added to your taxable income ando f course you then have the allowable deductions.

 

[Knobby22]

Re: OXR

As Kesso suggested, if you earn less than $6000 over a year then there is no tax payable.

I suggest you buy Personal Investment Magazine and look at the tables on the back. This will tell you all you need to know as a student.

 

[Caliente]

Re: OXR

ok - cheers for all that - now onto the trading

 

[Buda]

Re: OXR

WHATS up with OXR everyy body is talkin about it not :

 

[keepitreal]

Re: GO the OX!!

its just broken out..

 

[mikeg]

Re: OXR

Looks as if it is off on another run up. Giddyup.

 

[Ann]

Re: OXR

Hi mikeg,

I know this stock has almost cult status. The stockholders aren't owners they are groupies!

However in fear and trepidation I am going to dare to suggest that it has been running too hard too fast and is about to fall back on itself. Perhaps to test $1.59. Maybe even try to close the gap down to $1.56 ?

You try running up a sheer wall and see how far you get! :

 

[laurie]

Re: OXR

Trust you ann to spoil the party!

cheers laurie

 

[RichKid]

Re: OXR

Hi mikeg,

I know this stock has almost cult status. The stockholders aren't owners they are groupies!

However in fear and trepidation I am going to dare to suggest that it has been running too hard too fast and is about to fall back on itself. Perhaps to test $1.59. Maybe even try to close the gap down to $1.56 ?

You try running up a sheer wall and see how far you get! :

Well even if it falls the trend is still firmly up, just a matter of how you trade it...I agree, gravity appears to affect stock prices as well....but not as predictably (alas!).

 

[laurie]

Re: OXR

And if someone is sniffing around to do a take over bid e.g. Xstarta then it will continue the upward trend until someone else joins in the bidding...JMHO

cheers laurie

 

[Ann]

Re: OXR

Trust you ann to spoil the party!

cheers laurie

Sorry Laurie, I don't mean to really

I have been a very good girl and haven't once said anything unkind about MGX. I hope you noticed. I saw you there and thought no....I won't hassle Laurie by shoving up one of my charts.

Anyway, nothing wrong with a share price doing a bit of consolidation. It strengthens its framework.

 

[laurie]

Re: OXR

Sorry Laurie, I don't mean to really

I have been a very good girl and haven't once said anything unkind about MGX. I hope you noticed. I saw you there and thought no....I won't hassle Laurie by shoving up one of my charts.

Anyway, nothing wrong with a share price doing a bit of consolidation. It strengthens its framework.

Yeh,yeh, ok you were kind about MGX thanks still pi$$ed off though!!

cheers laurie

 

[Ann]

Re: OXR

Sorry Laurie

 

[laurie]

Re: OXR

With the market ann.......not you!

cheers laurie

 

[mikeg]

Re: OXR

I agree with you Ann, the price could well fall back hard, but this is one that I have deceided to hang on to for the long run.