If you invest/trade the US stockmarket, how do you work out the purchase price & sale price? I'm presuming that you will need to keep track of the AUD/USD exchange rate on the date of purchase & sale date, or would you calculate on the date you transfer the funds to your brokerage account (but this could be many days/weeks earlier)?
What about if you bought 2 different parcels of the same stock on different days & different prices (say $1 & $2 for the 2nd parcel) then sold only 1 parcel later on (say $3). Do you pick yourself saying if it's the 1st or 2nd parcel sold, of course to your advantage.
Another question, would all trades held more than a year get the 50% CGT discount while any trades below a year be taxed at your marginal tax rate?
What about if you bought 2 different parcels of the same stock on different days & different prices (say $1 & $2 for the 2nd parcel) then sold only 1 parcel later on (say $3). Do you pick yourself saying if it's the 1st or 2nd parcel sold, of course to your advantage.
Another question, would all trades held more than a year get the 50% CGT discount while any trades below a year be taxed at your marginal tax rate?