Share issues for Tax

[The GOAT]

Questions for those of you who have had CGT events relating to shares. Let's say you buy 1000 shares of BHP at $30 and another $1000 at $35. You then sell 500 shares. Have you sold the first ones you bought, or the 2nd?

Also, let's say you buy shares in another company at 10c, then there is a ten for one share consolidation. Does your CGT cost base per share rise to $1? This makes sense but I can't find it stated anywhere on the ATO website.

If anyone can direct me to the relevant parts of the legislation for these 2 issues, that would be much appreciated. Thanks

 

[saintbatty]

Questions for those of you who have had CGT events relating to shares. Let's say you buy 1000 shares of BHP at $30 and another $1000 at $35. You then sell 500 shares. Have you sold the first ones you bought, or the 2nd?

You choose which parcel you have sold - just keep the appropriate records for later sales. So if you have any capital losses to offset, choose the $30 shares. If not, choose the $35 shares.

Also, let's say you buy shares in another company at 10c, then there is a ten for one share consolidation. Does your CGT cost base per share rise to $1? This makes sense but I can't find it stated anywhere on the ATO website.

Yes

 

[The GOAT]

Cheers Saintbatty, much appreciated