tax on share profit?

[perfect]

If a person buys stocks in the stockmarket and makes a profit, and the shares are sold less than 1 year after buying it, does he only have to pay tax on 50% of this profit??

I know it applies to property, but not sure about shares?
Anyone can help

[GreatPig]

By my understanding, to claim the 50% CGT discount for any type of growth asset, it must be held for at least 12 months.

So if held for less than a year, I think tax would be payable on the total profit.

GP

[Mry]

If a person buys stocks in the stockmarket and makes a profit, and the shares are sold less than 1 year after buying it, does he only have to pay tax on 50% of this profit??

I know it applies to property, but not sure about shares?
Anyone can help

The rule is - Capital Gains Discount for individuals who own shares for more than 12 months.

The person would have to own the shares for more than 1 year and not be in the business of being a share trader (ie they treat the shares as capital acquisitions and not trading stock). Then they get the CGT discount. If they sell them in the context you describe, they pay tax on 100% of the capital gain.