Outline ·
[ Standard ] ·
Linear+
Selling a stock at 2 different prices, Will I be charged with stamp duty twice?
TSduplicated
|
May 9 2017, 02:19 PM, updated 7y ago
|
|
I am a stock trader and recently I wanted to divide my sellings into 2 parts. For example, I buy 1k lot of a stock at RM1/share. Then I will sell it at RM1.20 (500 lots) one portion and at RM1.40 (500 lots) for the other portion. My question is, will I be taxed with the stamp duty twice?
Thanks in advance.
|
|
|
|
iambovi
|
May 9 2017, 02:28 PM
|
New Member
|
QUOTE(duplicated @ May 9 2017, 02:19 PM) I am a stock trader and recently I wanted to divide my sellings into 2 parts. For example, I buy 1k lot of a stock at RM1/share. Then I will sell it at RM1.20 (500 lots) one portion and at RM1.40 (500 lots) for the other portion. My question is, will I be taxed with the stamp duty twice? Thanks in advance. From my limited experience, it is considered as 2 trades hence you will be taxed with stamp duty twice.
|
|
|
|
chewysoon82
|
May 9 2017, 03:42 PM
|
New Member
|
Hello, normal broking firms will consolidate 2 contracts into 1, then charge once only for brokerage and stamp etc etc. But perhaps need to ask your remisier or dealer.
|
|
|
|
deity01
|
May 9 2017, 03:48 PM
|
|
QUOTE(duplicated @ May 9 2017, 02:19 PM) I am a stock trader and recently I wanted to divide my sellings into 2 parts. For example, I buy 1k lot of a stock at RM1/share. Then I will sell it at RM1.20 (500 lots) one portion and at RM1.40 (500 lots) for the other portion. My question is, will I be taxed with the stamp duty twice? Thanks in advance. will consolidate into 1 trade... all buy per day per counter will consolidate into 1 trade all sell per day per counter will consolidate into 1 trade This post has been edited by deity01: May 9 2017, 05:33 PM
|
|
|
|
ILoveLalat.net
|
May 9 2017, 05:18 PM
|
|
QUOTE(duplicated @ May 9 2017, 02:19 PM) I am a stock trader and recently I wanted to divide my sellings into 2 parts. For example, I buy 1k lot of a stock at RM1/share. Then I will sell it at RM1.20 (500 lots) one portion and at RM1.40 (500 lots) for the other portion. My question is, will I be taxed with the stamp duty twice? Thanks in advance. Nope, unless you play them on two separate days then yes, you get charged. Otherwise, no. However, do check your contract notes as sometimes the brokerage charge double. Eg. Buy 1000 @ 1.00 and buy 1500 @ 1.10, average 1.06 and you sell later in the day with 1000 @ 1.10 and sell 1500 @ 1.15. Happen before, do review your notes, by right should only charge once.
|
|
|
|
TSduplicated
|
May 9 2017, 09:00 PM
|
|
Thanks guy for the inputs. Very helpful. I am not an intraday trader to I guess I will be taxed twice.
|
|
|
|
enriquelee
|
May 17 2017, 10:16 AM
|
|
QUOTE(deity01 @ May 9 2017, 03:48 PM) will consolidate into 1 trade... all buy per day per counter will consolidate into 1 trade all sell per day per counter will consolidate into 1 trade This is the correct calculation.
|
|
|
|