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investment more than one year and tax deduction

Discussion in 'Shares' started by 3ricko, 12th Apr, 2010.

  1. 3ricko

    3ricko New Member

    Joined:
    16th Mar, 2009
    Posts:
    4
    Location:
    Sydney, NSW
    Hi guys,
    I'm quite new to the "investment" world and have some ASX shares for some time, now i have a question that needs to be clarified:

    -As an individual investing in ASX shares, is it true that if my investment lasts more than 1 year (that is the buy-sell time), i'm eligible for the 50% tax reduction for that amount i earn from it?

    I really appriciate any response from you.
    Best of luck,
    Cheers.
     
  2. jabba_jones

    jabba_jones Well-Known Member

    Joined:
    2nd Dec, 2007
    Posts:
    60
    Location:
    Sydney
    That is correct, any investments that are held on capital account for more than 365 days are eligible for a 50% discount on the tax payable on the gain.