I want to take a profit on some of my shares and transfer the capital gains to another share. If I do sell the shares will I be required to pay capital gains tax in the 2009/2010 financial year because it is after 30/06/09?
What would the normal process for a trader be?
Would you sell the shares and transfer your starting capital + wins to the new share to maximize your exposure to the market, and then sell a certain number of shares come tax time to cover the capital gains tax?
Would you sell your shares and only reinvest your starting capital + wins - capital gains tax? So you basically put aside the amount of capital gains tax you would have to pay and not reinvest it.
What do you do? I'm leaning towards option 1 because you can make more money .
Also can I just sell a share and buy another share on the same trading day with the capital gains I have made and it will all be sorted in three days (T+3)?