Which is it?

[krisbarry]

Just a quick query... In order to reduce Capital Gains Tax, do you hold onto shares in a company for more than a tax year (1st July to 30th June), or a year after the date you purchased the shares.

Which one is it?

Hope someone can help

 

[tech/a]

You must hold for at least a year.
From my understanding.

 

[RichKid]

Hi Kris,
Just from memory to get the 50% CGT discount you have to hold for 12 calendar months after the day you bought the stock, best to check http://www.ato.gov.au website for confirmation, they may have examples too. Please check with your accountant or contact the tax office as I'm not at all sure about this. Do a search on this site I think there was another thread or two on CGT.

This is the ATO CGT link: http://www.ato.gov.au/individuals/c...&pc=001/002/026/003&mnu=5060&mfp=001&st=&cy=1

 

[krisbarry]

Thanks for your help, will do some research just to be sure,

Thanks again,

K