yea, just like when I buy a house I never purchase it with the intention to one day sell it for more, it just rises in price no matter what so that's why its tax free because its not your fault price keeps going up is it
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I have no ability to be a trader, more be a active share investor keeping invested shares safe and profitable.
I'm afraid I will not buy until 341 or lower and it will go lower. I've been playing this game with this share for a few years now and the total number is 37,000. the day I buy they go back on the market at 4cps above the buy price. Tax? Well the division is 30-30-40. 30% set aside for tax, 30% reserve fund and 40% to me. One cent on my lot is $370 so a four cent difference is $1,480 less $400 fees (2 transactions) Profit is only on buy back. Hardly a day passes in the life of this share without a four cent difference. The reserve covers miscalculations when I have to take a small loss to maintain the number. I am cashed up at present and happy to wait but I expect 341 within two days.
Semantics!
Actions speak louder than words - if you are active and buy and sell the same share regularly then I think IRD would see you as a trader and want tax accordingly.
If you buy a share to keep but something happens and you sell then fine.
But do that often and you are trading.
True.
Surely it is easier these days for IRD to trawl through a bunch or meta data and produce profiles of people.
Is it possible to open a share trading account with a false name?
I would have thought that was just about impossible with the focus on anti money laundering etc?
Spk at a five year high this week. How far we've come from the days of a sub $2 price and XT getting off to that terrible start. As painful as it was, I've sold the last of my Spk shares because I hardly sell off off anything and it was about time I took some profits somewhere. I bought Telecom shares in 2009 at $2.62 (first share purchase since 1987!)and kept on buying during 2009/10 and the XT troubles for at an average purchase price of $2.29.
I'm putting the proceeds towards a cruise and other bit and pieces. No reinvestment here, just pure consumption.
You're suffering from itchy trigger finger. The gross yield percentage vs the yield on bank fixed deposits shows it's got some way to go yet.
If only McDunk were alive and reading this now.....:-)
Yeah, maybe. I do have a habit of selling just before huge price increases e.g. Telstra ($3.60) and IFT (sub $2). In this case it really is about trying to find a little balance. It's great accumulating, it's satisfying and feels good...but I could also get run over crossing the road tomorrow. Rest assured I still have plenty of other irons in the fire that could bring glory or absolute misery.
Bob - where you going cruisin'
Good to see you spending some of your gains - i often feel sad when i hear of punters accumulating more and more wealth without spending some .....and then being run over crossing the road (figuratively)
Enjoy your little trip