Forum Archive Index - December 1999

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

>
> Subject:       [sharechat] Tax question once again
>
Don't be so impatient Derek :-).   You only asked your question a few 
hours ago......
> 
>   How much tax I have to pay if:
>
The tax you have to pay depends on your own  marginal tax rate, the 
intention that you had before buying the shares and whether the 
shares are subject to the foreign investment fund regieme.    Since 
you haven't given this information your question cannot be answered. 

However, assuming you are on a marginal tax rate of 33c and 
bought the shares with the intention of selling at a profit and 
leaving out the question of brokerage....
>
>   I bought share for $1000.00 - brokerage fee incl.
>   Share rose 25%, so I sold balance for $1000.00 incl. brokerage.
>
Let's say you bought 1000 shares for $1 each, and the price went up 
to $1.25.   You sell 800 shares for $1.25 making a total of $1000.   
The amount of money you have made on these 800 shares is  
$200.

The tax due is o.33x$200- which is $66.66.
>
>   I had not cash up profit yet.
>
Nonsense.  You cashed up the profit as soon as you sold the shares. 
SNOOPY 
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