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Re: CGT on multiple parcels of the same share

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Newbie

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Hi there

 

Say I have bought 100 shares in XYZ on 1/1/15 for $1 each and another 100 shares in XYZ on 1/1/16 for $1 each.

 

I then sell 200 shares on 2/1/16 for $2 each. 

 

In this scenario, I should receive the CGT discount for my first parcel of shares as I have held them for over a year, but not the second parcel as I have only held it for 1 day.

 

In My Tax - would I need to input the transactions for each parcel into the worksheet  (eg purchase and sale of 1st 100 share parcel and then a separate entry for purchase and sale of 2nd 100 share parcel)? Or do I just input them under the same CGT event (eg first acquired 100 shares on 1/1/15 then added 100 shares 1/1/16 and then sold 200 shares at 2/1/16) and note the dates applicable for each transaction?

 

Obviously the above example is simplified and could get more complex with multiple acquisitions of trust units where tax deferred income adjusts the cost base of each parcel differently over time.

 

Many thanks.

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Best answer

ATO Certified

Community Support

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Hi @coolcup,

 

Welcome to our Community!

 

How these amounts are reported depends on a number of factors and the mix of investments. A good place to start is the DCAT video and tool on our website.

 

If you need help completing the relevant sections in myTax, we'd suggest setting up a live chat in myGov where you can connect with an ATO officer in real time who can help assist you with reporting your information.

 

Thanks, JodieH.

3 REPLIES

Devotee

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You would put them as two different CGT events.

 

Don't forget to add on Purchase and selling costs also

 

EG

Purcahse costs = $20 1/1/2015 & $20 1/1/16

Selling costs = $20 on 2/1/16

 

So Cost base for

1/1/2015 = $1 x 100 shares PLUS $20 Purchase costs PLUS $10 Selling Costs ($20 / 200 shares x 100 shares)

= $100+$20+$10 = $130

 

1/1/2016 = $1 x 100 shares PLUS $20 Purchase costs PLUS $10 Selling Costs ($20 / 200 shares x 100 shares)

= $100+$20+$10 = $130

 

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Devotee

Replies 0

 

Best answer

ATO Certified

Community Support

Replies 0

Hi @coolcup,

 

Welcome to our Community!

 

How these amounts are reported depends on a number of factors and the mix of investments. A good place to start is the DCAT video and tool on our website.

 

If you need help completing the relevant sections in myTax, we'd suggest setting up a live chat in myGov where you can connect with an ATO officer in real time who can help assist you with reporting your information.

 

Thanks, JodieH.

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