While trading Stock, there are somehow profit or loss. however if i only sell when i have some profit and hold for others which are lossing -50%.
ATO only counts which i sold and calculate the profit i have earn. i would save 50% of CGT when i hold a stock more than 12 months, which means if i buy some stock on 30th Jun on 2022. i should sell this after 1st July on 2023, skiping one financial year.
I would like to find some ligal way to save the Capital income tax about 30% of personal income all together...
To be Honest, Austalian tax system is bit different. some other country seperate tax rate about income (by working) and income( by non-working like investing) and provide some range of taxfree. However in Australia calculate first $18,200 tax free for all income for individuals no matter it is salaries or catital gain.
I am curious that i misundestood Australinan tax system? or I don't know about the way to save and clime deductions of CGT.
Please give me some suggestion that I can save Tax legally, contribute economy in Australia and enjoy life here.
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