My investment advisor verbally advised me to liquidate the shares owned in my investment portfolio so I could invest the funds in a different investment product. The shares were liquidated, at a loss, during June.
For a valid reason it was ultimately not possible to invest the cash realised into the new investment product. As a consequence, I now have cash that I would like to re-invest ideally in shares.
Should the Australian Tax Office accuse me of conducting a "wash sale" by liquidating the asssets of the original portfolio are there steps I can take to demonstrate otherwise?
(Both the original portfolio and the proposed new portfolio are quite legitimate products and the investment advisor is a large and respected company.)
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5,277 views3 replies
3 replies
5,277 views
3 replies