ASX Thread

Nxtd to the moon

So what happened to GXY?

would someone be able to tell me how tax works on trading? I'm with Westpac online investor when I complete a trade I pay brokerage fees of 19.95 to buy the shares and another 19.95 fee to sell the shares. Once the trade is complete do I automatically get taxed the amount or do I keep track of profits somewhere and when I go to tax return online at the end of financial year enter all details?
how does this work and how much would I get taxed on my profits. I'm looking at holding a stock no longer than 1 month and have heard you get taxed 50 percent on anything that is sold before 12 months
is it worth studying the stocks and risking the money you put into these companies to get taxed all the amount? I'm coming up on 20k soon and am thinking about buying 10k of one company to get greater profit but selling after 1.2% gains which usually happens daily if I pick the right stock

lithium bubble is over

Why the FUCK did I put 5k in bgs. Now I've got to take a nasty loss

CERU my nigga

sold out IOT at a loss, what a hyped company baka

How much $ you lose?

Be more careful about memes lad

Not much, only a few hundred thankfully

I'm staying well away from the Hotcopper meme stocks after this - I have learned my lesson, you guys on these ASX threads seem to be a good bunch.

>They used to get hundreds of replies, not die after around 20 replies.

Bagholders always leave when their penny stocks reach the dump phase.

I

Similar to hot copper?

tru
RIP mate
absolute meme stock
don't post stocks without saying why it's all gravy

you don't get taxed the amount, you work out your capital gain/loss at the end of FY2016/2017
i may buy 100,000 shares in IOT. hoping they'll make a comeback.. any thoughts guys?

I've tripled my investment on NSL consolidated in the last couple of months. DYOR, but it's looking to keep growing despite CR share dilution last week

Original shill for XPE here, still holding. Seems to have consolidated after run from 3.5c to 10.5c @ around 7c.
Recent interest from Microsoft on top of Intel.

What happened to WOW today, nearly a 10% jump.

Thanks for bringing it back.

There was some great shit in here. People who rode OFX would have made some cash.

Currently in MOX, SYT, RVR, ADV, ALC. Looking for that return to lithium boost.

Thoughts on blue chip stocks? I've looked at the long term prospects of shares like Transurban and Sydney Airport in particular as well as aged care homes like Estia, Japara, Regis, thoughts on those and the healthcare sector in general? I know people say its overpriced but surely given Australia's ageing population there is another 20-30 years of non stop growth right?

In terms of spec stocks I'm looking to get into RAP once they're FDA approved, but from what I've read that won't be until early next year, what do you guys recommend for now? PLS is looking cheap.

Memes for me are gold stocks. Expecting more rises...
Up 110% in PGM, also up 33% in SIH. Will be adding to PGM. Also in GTR & LCD. In DRM, in a small way.

Gamble for me is oil, picking up super low AKK & AKKOA in case of a oil price increase in the mid term.

You pay tax on your income. If you sell a stock, and it is at a profit, then the profit amount adds to your income for that tax year. (A loss would decrease your income.)

Except gains and losses on the market are capital gains and losses and can't be offset against your taxable income. Can only be offset against each other - other capital gains are sale of assets for a realisable gain or loss.

Yeah boi.

Is any of this ASX stuff?

Yeah it's capital gains not income pal.

Losses also only offer against future years. CGT is also lower than income rates.

ALSO, CommSec does not have the same reporting abilities into the ATO as regular interest bearing accounts. The only people who will narc on you for not paying tax are Link market services, or possibly large declarative trades.
You cannot get away with this is you have an IRESS account but common traders.

So your trading in your own name not a company?

lads RAP is going to continue a steady climb up. honestly one if the most exciting and promising penny stocks ive ever come across. massive potential and great pedigree.

if you can afford to tie up the cash buy now and hold for 1+ year. heck even just throw what you can at it and buy in big later when you have the $.

Nothing, it's still good long.

OP Here

AGY Down 14% to 2.4c. I'm thinking of buying 150K shares and hoping it'll go up to 3c per share.

1. Is this a good decision?; and
2. Why is the SP tanking?

Still Holding XPE, IOT, TV2 and ZYB

free riding XPE atm want to offload my holdings on anything over 10c and waiting for TV2 first revenue announcements before deciding what to do with my TV2 holdings and options.

>Post your meme stock picks boys.

sraqu, last week

I just put in for 2k worth!!
and 600 odd of NSL
Wish me luck brother, looks pretty promising though!

Long REITs until The Fed starts to raise interest rates. Specifically CORR, LADR, and IRM

lmao, just lmao @ the people who didn't buy into XTV before the trading halt.

Shit's gonna skyrocket once it starts trading again.

I'm a little confused sorry, so lets just say somehow I earnt 20k profit from trading but my full time job a year I make about 50k not including the profit I made from trading but my overall tax from my full time work is about 4-6k
does this mean that when I lodge my tax I enter 70k instead of 50k and it just means I don't get as much tax back that is withheld?
just abit confused cause what happens if someone who made profit off the market spent the money straight away and at the end of the year they find out they weren't entitled to all the profit made?

I put 2k in yesterday, already made 150 in one day, hope it continues. May even put more in.

It's okay buddy, I'm sure you'll get your money back somehow.

Alright, let me have a shot at this - and I suggest you confirm with an accountant - but the way I understand it is this.

Your taxable income from your salary is taxed at whatever rates are current at the ATO. Your income from your stocks is also taxed but using the capital gain system, and is treated differently. Tax on a capital gain is 50% of the gain, which is subsequently halved if you held the asset (in this case - shares) for more than 12 months.

Think about it as being two separate taxes - income separate from asset sales. The two shouldn't cross over, but yes, you pay both sets of taxes in the financial year.

So, by way of example - I make $80,000.00 in salary - of that I pay $17,547.00 in tax at the taxable rate of 32.5%. Separate to that, I buy $10,000.00 worth of shares in XXX Company throughout the year, and then sell them for $20,000.00 in the same year. Quite separate to my income tax payable, I pay $5,000.00 in capital gains tax, which is half of my profit ($2,500.00 if I held them for more than 12 months). In all, my tax for the year then becomes $22,547.00.

Make sense bro? Hope it does.

I should add (as I think I have previously in this thread) you can't offset your capital losses against your income tax. You can only offset your capital losses against your capital gains. Good thing about losses is you can hold them forever, to be offset whenever you make a gain in a later financial year.

IOT 0 volume? lol

AEE

Does anyone have any significant portion of their portfolio in bonds? It seems like yields are so low that it's not worth it... however, this:
asx.com.au/prices/targetratetracker.htm
suggests a cash rate drop is coming next month, so maybe now is the time to buy before yields drop even further with the inevitable bond price boost.

tl;dr: bonds y/n?

aus bonds yields are so low it's not worth it.

Dude fuck bonds. There are plenty of dividend stocks that are just as low-risk that will give you way higher yields.

oh yes now I think I understand, thanks for that
so lets say I don't have much money to work with and from my salary I get taxed about 4,500 but I've somehow made 2,500 profit in total from trading stocks throughout the year

does this mean that 50 percent of that profit gets added to my tax withheld but I keep the other percent? but just means that I have more of a chance of getting more tax back since now I have 5,750 dollars tax withheld including my profits?

I want to start with low amount of money and play it safe till I gain more knowledge of the market so I'm thinking about putting 3k into a stock I've been watching for a long time now and I've called it right more often than not mainly from just announcments and news being released but I also think it's a undervalued company
anyway lets say the stock goes up 4 percent within a month of me buying the stocks that's a $120 profit minus brokerage fees ( 2 x 19.90 for buying/selling ) so I'm left with $80.20

if that was the only trade I made throughout the year does that mean I'm safe to spend 40 dollars or is it 50 percent off including the brokerage feed so I get taxed 60 dollars? and left with 20 dollars to spend lol dafuk
is there... anyway around this apart from investing more money which I don't have at the moment?

DEG.ASX

Exclude the brokerage fees as its a cost of selling and buying the asset.

There is no tax withheld on stocks - you have to pony up the cash yourself and pay it to the ATO when you do tax. So in your example, $4,500.00 tax withheld, then when you do your tax, you will have to pay $1,250.00 to the tax man.

But you will have the $2.500.00 you made somewhere to pay that tax - unless you run off and spend it

alright fml so just to confirm

Tomorrow I invest 10k into the stock market and the stock goes up 5% within hours and I sell the shares ( I hold the stock for like half a day till it gets to 5% ) I just made 500 dollars not including the brokerage fees being taken off that profit
so at the end of the year I pay 250 dollars in tax for my capital gains?
so pretty much, don't touch/spend your profits till after financial year when you've paid taxes?

up 24% this morning.

Told ya.

This is the company that is manufacturing the IOT Roam-E.

wtf I shoulda checked myself because I have wrecked myself!

Now I don't remember which company was manufacturing the IOT drones.

We need to get an infographic going, because we haven't even talked about franking and I don't really know how that works.

CGT is NOT a 50% tax on gains. It is taxed at your marginal rate.

$1000 cost base
$2000 sale price
thus
$1000 gain * [tax rate] = tax payable

If held longer than 12 months from the purchase date:
$1000 cost base
$2000 sale price
thus
$1000 gain / 2 = $500 discounted gain
$500 * [tax rate] = tax payable

And to avoid any confusion:

At a marginal tax rate of 32.5%, the net profit in scenario 1 is $675, and in scenario 2 is $837.5

Anyone bought into MNS word on the street is its gonna hit 2$ by September

apart from guessing what tactic should be used when buying into a stock? what about if a stock has recently released a positive announcement/news and you think the stock is undervalued? how do people usually pick out a good stock to a bad since they all dip so buying the dip is a shitty tactic cause you could buy a dip from a fucked company
is it a mix of news research and other information that I don't know about?

Yeah just a regular retail CommSec account. There are likely reporting thresholds, like if you make tens of thousands

what broker is everyone with? I just started trading with commsec and the broke age fees feel a lil bit too high

Finally, someone else on here knows tax in oz.

If you make money, it adds, a loss can't offset on another class.

See the ATO website:
"You pay tax on your capital gains. It forms part of your income tax and is not considered a separate tax – though it's referred to as capital gains tax (CGT)."
ato.gov.au/General/Capital-gains-tax/

This post should be in every asx thread

Thank fucking God, I was about to bunch my monitor reading all the fuckwit replies that have no idea how CGT works.

Also, big kek to all the penny stock memers. Here's come tips for you:
STW
IHVV or IVV
IXJ
IAA

Thank me in 10 years when you've slowly gotten rich.

Chk
Nxtd

Can't go wrong
Any thoughts on chk? Do you think it will make 10,15, even 20 in the next 3 months ?

Everything seems to be taking a buttfucking today

Well, quads can't lie... so I'm buying.

Whatever.

So now I got trips checking quads... Buy buy buy. We are all getting rich.

>33

"broker age fees"
top kekle
$20 is the max rate - wait for robinhood to come to Aus

yeah mate been waiting centurys Whats taking them so long?

Any source would be appreciated.

>not buying NSL at 0.004

>Go to yahoo finance
>Find biggest gainers or losers
>Make sure they are penny stocks with enough mcap to trade
>Short or long them as appropriate

Done. You can do this almost every day.

minimum asx parcel is $500.

Bonds are crap. You'd make more money selling loans on lendingclub.

nope

Have a look at SGQ. Mining exploration company. Diggers and Dealers is on next week, looking to make x5 my initial investment. Assays indicate gold, lithium and nickle sulfate deposits. Should have some big news.

Medical Marijuana is now legal in NSW and can be described by doctors.

I'd recommend you guys to keep an eye on MXC and MMJ at tomorrows opening.

prescribed*

shit.

CHK? Got in at 2.6.

Reminder that the ASX sharemarket game session 2 is about to start:
asx.com.au/education/sharemarket-games.htm

MMJ moved, MXC did dick all.

Still lot of potential in both, but sold for a 23% profit in MMJ today.

>Mining exploration company.

How to emulate the performance of the ASX100 without buying an ETF or managed product (and therefore paying management fees):

1. Buy equal dollar amounts of one supermarket, one bank and one miner in the index

I'm with you on this one, there has been so much hype over lithium exploration this year there really isn't much to grow. Take BGS, their latest set of drill results were spectacular, what does it do? Fucking drops...

As far as mining goes I'm looking at the supporting infrastructure/services required the drag all these projects from exploration to development and production.

Looking at ANG at the moment but I'll need to spend a full day digging through all their stuff. In my view it's the ones that have fallen on hard times but with no imminent risk of failure that are the best bets.

I'll do up a summary on it soonish, kinda busy with study atm (Bachelors of Accounting & Chem minor with ATPL theory on the side)

Only have $1500 spare though.

Hmmm... gonna do my homework and see if this checks out.

As for me, I'm eyeing SWM. If I was really wanting to go long, I'd be buying into TEN but I can't fucking wait until they get their act together. Also who knows when they'll finally have a franchise to surpass Masterchef.

Annual Results come out tomorrow.

Management fees of Vanguard ETFs are 0.15% to 0.25%.
Unless you're dealing with huge amounts of money you'll end up spending more than that on transaction fees of multiple shares.

Also, even though you might get similar performance short term, you have much more risk by only being in one company of each industry.
Kind of defeats the point of an Index.

Been holding a small parcel of TEN for three years now. Gone no where so far.

Anyone else hae money in gold? How much longer is the gold meme going to last? It's been solid all year and I don't see it stopping before the US election.

$5k parcel of each security wouldn't cost any more than $75 at the most

(75/15000) *100 = 0.5% initial transaction cost for the above. But this is a once-off cost, equivalent to two years of management charges if we assume the etf provider's fee is 0.25%pa

Of course in the short term the aggregate movement of these three holdings will not replicate the asx 100 movement nearly as well as the etf. But this only matters in the long term. No one holds an etf to harness the market's growth over twelve months.

TEN is a sinking ship. It seems that there's only room for two major networks in the shrinking industry - and TEN isn't one of them.

So... Acorns?

I suspect you are right, especially now with Australian Netflix. I have been hoping they'd fluke it and get a couple of hit shows and turn a tidy profit.