reduce assessable income and receive a refund
No you don't receive a refund if you register a loss on your income statement, the company is able to carry it over years to offset future profits, like other posters have said. The only time a company receives a refund, generally, from the tax office is when they have paid more GST then they have collected.
Yes I`m wrong. :crap: Net capital loss is rolled over/deferred and CANNOT be claimed against personal assessable income.
Apologies to all.
I'm not a bear just realistic, I could just as well call the bulls reckless fools with no sense of risk.
BSL is at a real low point about now, it will go back up but not sure if I'll bother waiting, see how it goes, only bought 5000 of them so I'm not going to go broke or get rich either way.
Must say you don't deserve this on the first day.
Will say had the same urge as well.........
The majority of ANALYST RECOMMENDATIONS are averaging a HOLD on BSL if that is a help. Data is on Commsec. I am always wary of the "conflicts of interest."
You watch ABC news? Alan Kohler appears to me to think there is still further to fall. Also said on the news he believed it was a dead cat bounce. One of his comments I posted on your "I Predict" thread recently.
The last email to me from Eureka was on the 27/3 and the last lines said:
With the latest US rescue plan raising expectation and confidence in the market I hope to see you with us during what should be a good April.
Best Wishes,
Alan Kohler
Appears for everyone to buy now only to sell again at months end?
I subscribe to Eureka Report too and from what I've seen in all these newsletters over the past 12 months they dont seem to know a lot but SOUND very clever.
I still think there HAS to be a great fall somewhere along the line I just cant believe we will walk away from this without a lot of pain.
For me I don't see anywhere near the doom & gloom the bears have so far predicted in the real world especially in Aust. All we have seen so far is a mild recession but the stock market has priced in something alot worse, something along the lines of what we have seen in the US, with banks under pressure, house prices getting smashed etc but we have not come close to this in Aust so far.
Not saying we won't see this happen here but atm our economy is actually holding up reasonably well, and until we do see some signs of further deterioration I think we will see some strength in the stock market.
Perhaps you should mull over psychic's insightful graph at post #232. That 2007-09 "thin blue line" tick-up looks like a classic dead-cat to me. See how it's tracking the '30's depression line pretty well? Then tell me you think there couldn't be significant further downside in the short to medium or even longer term?
Wishing some *Extra* good luck to those of you still in the punt...
Whatever may happen I wish it would just get on with it, as things are we're stuffed, cant invest in anything, even money in the bank is a waste of time.
Yes I`m wrong. :crap: Net capital loss is rolled over/deferred and CANNOT be claimed against personal assessable income.
Apologies to all.
I know I'm propagating this off-thread discussion but in another thread, it was posted that the ATO is treating CFDs as assessable income. I have rolled over most of my trading into CFDs rather than shares over the last year so will be claiming any net losses I have against my income. That's just my position so BEWARE!!
It's very interesting though that after breaking through the 3520 resistance that has now become a key point of support over the last couple of selling days..... This rally might have some legs in it yet I think?
From a charting perspective we're approaching some resistance at around 3700, will be interesting to see what happens in the next few trading days. A break through 3700 could bring 4300-4500 into play. A rejection of 3700 and failed support at 3500 could see us retest the lows.
I think we will see some consolidation under 3700 and then hopefully a break higher.
Also look at the volume and the effect it has had especially the really big vol, doesn't appear to be many sellers left atm.
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