Visual and I are having a discussion re the sale of shares for parcels bought at different times, and the calculation of CGT.
My understanding is that it is up to the Investor to nominate which parcel of shares are sold, according to their financial situation.
eg You may choose to sell the first bought shares if held longer to take advnatge of the possible 50% reduction in CGT, or maybe the first bought shares were the most expensive so you want to increase the CGT in an otherwise low CGT year, or increase the CGT loss in an otherwise high year etc etc.
My software (portfolio planner) asks me to nominate whether I want to minimise/maximise CGT when I enter my sell trades. Usually for me it is the former.
Visual has the understanding from both her online trader (which always sells the oldest shares) and her accountant that you cant nominate which parcel is sold.
Now, maybe I am having a blonde moment but surely it is the Investors decision, and not the ATO to decide which are sold first?