I feel MET SOA already factored into the price
Sold some today to buy a big shed
Having see what Covid did to the SP when I was over-invested in OCA I wonder what will happen next in this unstable World .
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Now that you’re a trader, if you weren’t before, make sure you provision for tax on your capital gains.
Looking through the lens of a long term investor who has no time horizon to sell the assets, COVID was a blessing offering up an opportunity to accumulate a lot more shares at much lower prices - bringing down the average holding price of a much larger holding.
Gltah
having been through a few crisis i feel its bit soon to sell this one when you have 2 FA reports to come and we are in the midst if the current crisis..
wont return to europe until 2022. there is a forecast from one economic metrics outfit for a recession 2021 in NZ.
The recession may effect certain demographics more than others.
Interpretation, IRD doesn't care what your motivation is that changed your mind.
I do respect and enjoy your charts and patterns analysis, no dispute, though typically for my charts the minimum timeframe is weekly, or monthly. But I have no intention to sell this one, so am only interested in accumulating when the market decides to give me a deal.
A mute point .
I buy with the intention of holding long-term but circumstances change and my mind changes.
Therefore my accountant says I am not a trader.
I only sold about 5% of my holding and I am a long-term holder .
I might be wrong in my assumption .
I keep a record of my intentions
OTY to do what you want to, a 'moot' point perhaps. From my time with the IRD, I prefer now to having nothing to do with them, I always use a big five accountant to front my interactions with IRD and provision for any possible downside eventuality. You sign a terms of engagement with your accountant that waives their culpability, regardless of what they advise you. Hopefully their advice is the best you can afford to buy. Your view of your intentions and actions do not necessarily reconcile with the IRD's view. Moreover, you broadcast your circumstance on a public forum, and despite your pseudonym, your identify is discoverable. Might be small beans but a lot of people here post with perhaps some false sense of impunity.
All the best.
I guess we're getting off topic but, until your own circumstance are tested by the IRD (and believe me you don't want that if there's ANY borderline interpretations) you don't and won't know. In my experience they don't care about changing motivations, or frequency of buy/sells, it's easy for them to just say (if necessary in court) ... "look 'investor', basically you bought some shares with the apparent intent to hold, but actually if anything comes up that you need the money for or are worried about capital losses for whatever reason you would sell. See, you sold in those circumstances, you're a trader, pay up your taxes", case closed.
Thanks for the correction.
You are right -I should have said a moot point .
If the IRD should demand tax on profit by calling me a trader then they will have to accept loses and brokerage against profit.
For an investor like me I feel I should be allowed to sell without being taxed when the main reason is I have changed my mind and want to invest in something I will enjoy .
Do we not all invest with the intention of selling one day ? Does that make us all traders?
I am curious to know how many people on sharetrader have had disputes with the IRD as to their investor/trader status ?
A further thought-is it best not to post on sharetrader lest that could be used in court as evidence you have the appearance of a trader?
No, we don't all invest with the intent of selling. Many invest with the intent of growing their capital asset base ad infinitum and receiving a taxable income from it (preferably taxed at the company, i.e. imputed earnings), ergo the bigger the capital base, the bigger the income. If ones intent is to grow capital and receive dividends, but when adverse or other conditions motivate us to sell, to realise or protect capital, then by definition we are traders.
Deleted because site would not allow me to put in word i wanted to.
I guess we are all lost if the IRD investigate .
Maybe I should ask my accountant to change my status to a trader and claim all the expenses-office,computer,broadband ,brokerage,and share losses for peace of mind whilst tax rates are low .
The more I think about it the better it seems-I would have to attend AGMs ,Hotel and travel and meal expenses.
I would probably make a loss I could put against my professional income.
Haha,conversation between Mr Fish and IRD over two subsequent tax yrs. Year 1 Mr Fish wants to claim a nice loss but IRD says because Mr Fish has a day job he is not really a trader so can't claim the loss. Year 2 Mr Fish makes a nice profit but because he has a day job and couldn't claim a loss the year before he doesn't think he should pay tax but IRD says sorry Mr Fish you are definitely a trader.