Forum Archive Index - September 2000

["Tony Haddon" <haddon@E3.net.nz>]

That same publication also quotes Technical Policy Circular 88/13 : ........."Section 65 Income Tax Act "

 

" Losses made in selling or disposing of shares can be deducted for tax purposes where it is a normal part of the taxpayer's business to trade or deal in shares."

 

and: "Shares acquired for resale but not sold at the end of the year of the year are not taken into account , until actually sold in a later year"

 

and  "Any losses claimed must be actual realised losses from the sale of the shares , as opposed to reductions in the value of shares the taxpayer held at the end of the year. "

 

Nick has hit the nail on the head...the loss is whatever the significant other looking over your shoulder reckons it is !

 

What about a competition to see who can have the last word ?

 

 

 

regards,    Tony Haddon