How much is your taxable income, and how do you try to get the most tax deduction?
Especially after you make a killing in the stock market, say you make $100,000 profit in 1 year from stocks. How do you reduce your tax and avoid giving almost 50% of it for free?
I am currently using a Macquarie Bank 100% loan product called Fusion Fund, which allows me to prepay the interest and claim some tax back from the financial year, but the performance of the fund stank! I am considering to cancel it.
I have heard someone say, sell your underperforming stocks to make paper loss, and then either buy back at same price or put in other stocks. This way you can counter your income/profits with some loss?