Hi Guys,
I have searched through this forum and found some of the answer i am looking for but i wanted to double check and see if i was correct in my assumption.
For an Investor would the following example be correct
Investor purchases Stock A for $2000 + $30 brokerage =$2030
Investor sells within the same year say a month later and the total of his shares are now have risen
so lets say Stock A=$3000-$30 brokerage out=$2970
For tax purposes now when the end of financial year hits the amount to be added to assessable income would be $2970-$2030 = $940?
Also say he traded again this financial year and did the exact opposite and made a net loss of $940 could he just ignore and offset the two and leave it at that.
Hopefully i made that clear
Thanks
I have searched through this forum and found some of the answer i am looking for but i wanted to double check and see if i was correct in my assumption.
For an Investor would the following example be correct
Investor purchases Stock A for $2000 + $30 brokerage =$2030
Investor sells within the same year say a month later and the total of his shares are now have risen
so lets say Stock A=$3000-$30 brokerage out=$2970
For tax purposes now when the end of financial year hits the amount to be added to assessable income would be $2970-$2030 = $940?
Also say he traded again this financial year and did the exact opposite and made a net loss of $940 could he just ignore and offset the two and leave it at that.
Hopefully i made that clear
Thanks
