You can find threads on that topic on the off market section but here is the definition from the Tax Bible." Profits from selling shares are taxable if the Clear and Dominant purpose at the time of purchase was to resell to make a profit. Look at each individual parcel of shares that taxpayer sells to make correct ruling. If shares are aquired to make capital gains from their growth in value as well as to earn income from dividends then there is no clear purpose of resale so profit is not taxable and losses are not deductable." A CGT will change all that of course.
Bookmarks