Tax TAX TAXXXXXXXX!

[twojacks28]

I sold all my bhp to offset my losses. worked a treat.

 

[NettAssets]

I sold all my bhp to offset my losses. worked a treat.

Until it gains five bucks tomorrow and you've got a handful of unrealizable gains that you can only dream about

 

[twojacks28]

Until it gains five bucks tomorrow and you've got a handful of unrealizable gains that you can only dream about

Don't worry there were plenty of gains!!!

 

[Fab]

Does anyone knows how CGT works on shares inherited ?
I explain. My wife inherited (About 6 years ago) 700 RIN shares originally bought at $4.80 10 years ago. I am now planning to sell them, how will CGT be calculated ?

 

[clowboy]

ring an accountant to make sure you fully understand what will happen, but

she will pay tax on 50% of the gain at her marginal rate. The gain is calculated as the diff between purchase price (price at inheritance) and sale price. Assuming no dividends where reinvested.

Although it is not a really large amount of money, getting pro advice on such matters can save you alot of $$