Forum Archive Index - March 2002

["Ruth Ayling" <r.ayling@paradise.net.nz>]

Hi Derek,
 If you are a trader the answer is  15c. If you have not established
yourself as such, since there is no capital gains tax in NZ the answer is
zero.

Here is some light entertainment:

>Did you know that the word  "gullible" is not in the dictionary?
>
>Bonehead award four goes the about 130 people in South Africa who were
>duped out of some $1.5 million when they invested in a company
>believing it was owned by God.  Some invested as much as $85,000.  No
>investment was less than $11,000.
>
<bonehead@yahoogroups.com>

----- Original Message -----
From: "Derek" <dkw@paradise.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Saturday, March 23, 2002 8:01 AM
Subject: [sharechat] A taxing question


> Hi,
>
> Almost tax time again.
> Can someone help me with this one?
> If you were buying and selling shares in the
> same company and if you bought 1 share at 20 c
> then, later, 1 share at 30 c, then sold 1 share
> at 40c then how much profit would you have made for
> tax purposes ?
>
> a) 15c  using an average of the share cost
> b) 20c  saying that it was the first share that you bought you sold
> c) 10c  saying that it was the last share that you bought you sold
> d)     0c   what you have effectively done in total is to buy 1 share at
10 c
>
> Thanks in advance,
> Derek
>



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