This is my first post and im new to the forum, have just gotten in to the share market.
I've been reading like crazy and learning as much as I can about shares, done a fair bit of paper trading and have now made a few purchases.
I have a question regarding tax:
A couple years ago I worked for the CBA and I engaged in an employee share purchase plan, these were issued to me at $34 per share.
The following year all employee's were issued some shares, valued at around $44 (I cant remember exact figure I have it in my paperwork).
I have now set up an online broker and transferred my shares from the registry holding, to the broker.
So my question is, suppose I decide to sell 30% of my CBA shares (Which i have, to diversify my portfolio), what do i claim as my gain at tax time? Do I reference from the $34 purchased shares or the $44 issued shares?
Thanks in advance for any help given!
I would view myself as a long term investor dabbling in a few short (day trade or a couple of day trades), to medium range trades.
My plan for my portfolio is, starting with 20k, i will add roughly 10k per year in to the portfolio to build it up over time, I want to diversify my portfolio in to -
85% ASX 200 shares
10% medium-high volatility
5% high volatility
With no more then 10% in any one trade, as my portfolio grows larger I will down grade this to 8%, 6% and finally settle on around 4%.
Would that be a good spread of the portfolio?
I made my first day trade today, I picked up shares in the morning with ADI at 0.335 & sold again after 12 for about 0.380!