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How to sell 100 million shares without paying any CGT!

Publication date: 20 Apr 07 | Source: CAPITAL GAINS TAX BULLETIN

Issue: No. 1 2007

Pages: pp.11-12

Abstract:
The amazing thing about the recent Lend Lease Custodian case is that the taxpayer managed to sell 100 million Westpac shares without paying one cent of capital gains tax even though the market value of each share at the time of their sale ($5.39) was almost $2 per share more than their original cost ($3.53).

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Kirk WILSON
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