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Cman(Initiate)Initiate
12 June 2024

If I sell shares do I have to pay tax on the profits if I intend to buy more shares with the money?


The shares are held personally.

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Taxduck(Taxicorn)Taxicorn
12 June 2024

Most taxpayers who hold shares are shareholders. Some taxpayers have a business of buying and selling shares and are sharetraders.

Shareholders who sell shares trigger a CGT event and may have to pay tax on any gain. The purchase of new shares are not able to claimed off capital gains.

Sharetraders buy and sell shares and profits are taxed as normal income. Link explains.

https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/shares-and-similar-investments/share-investing-versus-share-trading

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If I sell shares do I have to pay tax on the profits if I intend to buy more shares with the money? | ATO Community