Just a quick question regarding CGT... the answer may seem obvious but I figured I'd ask someone more educated than myself!
I'm currently only 21 and in my last year of uni, after which I will obviously enter full time employment. My current income for this financial year will probably be less than $21,600, and thus will be taxed at only 15%.
My dilemma (if you can call it that) is that over the past 5 years I have managed (thanks largely to the bull market) to return a profit of over 150% (or approximately $60,000).
My thinking is that by selling my entire portfolio this financial year, my taxable income rate (15%) will be much lower than my prospective taxation rate in the future, and thus my total CGT payment will be lower - $4500 @ 7.5% compared to $9000 @ 15% or even $12,600 @ 21%
Is there anything I could be missing? It seems like a pretty dead easy question, but at my age there's alot I dont know!