Hope this isn't too dumb a question ..... From what I understand, if you hold shares for longer than 12 months, you get a 50% discount on any CGT you have to pay. Let's say I bought 200 shares @ $1.50 in Jan 2007 and I'm still holding them. I recently bought some more shares (100@$1.25) in October 2008. I want to make a quick profit and sell these @ $1.45 in November 2008. Because I have made a profit, and held them for less than 12 months, I have to pay CGT on full profits?? How does ATO determine which lot of shares I sold? Can I just say I sold the Jan 2007 ones at a loss?