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Sale Of company shares & Capital Gains Tax

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auzzie | 21:22 Fri 05th Dec 2008 | Business
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If you sell your shares back to the company can you still deduct the value of the purchase price for CGT purposes?
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Errr, no.
The capital gain (if any) is the difference between the price you sell at, minus the price you bought at. That simple.
The original purchase price doesn't come into it.
Err yes.

I have no idea why buildersmate seems to think the "purchase price" and "the price you bought at" are different things? There's nothing in the question to suggest it.

Buildersmate is correct, the capital gain is the difference between selling price and purchase price of the shares.

For the avoidance of doubt that means the price YOU bought them for, although I think that's all you were asking in the first place.
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Skyline, you beat me to it.
Buildersmate, isn't that what i asked?

Thank you for taking the time to reply anyway. Much appreciated. I did think that was correct but having problem getting ex accountant to supply correct purchase price.
Alright, its a fair cop. It was early Saturday morning.

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