Wash sales, records and deadlines
Avoid the wash-sale trap and keep records that stand up.
Module 19 of 26, Australian tax walkthroughs (general information). Lesson 5 of 5, about 14 minutes. This module is for readers in Australia.
The takeaway
Keep a full record of every trade, the price, the date and the reason behind it, for at least five years. If you close a position and buy back in for a genuine reason beyond the tax result, write that reason down; the ATO looks at your dominant purpose, not the number of days between trades.
This page is a public summary. The full lesson has the worked examples, an interactive exercise and a short quiz, and sits in the course. Lessons 1 and 2 of Module 1 are free and the rest need a pass.
Open this lesson in the course
General information only. It doesn't consider your objectives, finances or needs. Tickfloor holds no financial services licence and never places trades.