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 Selling a stock at 2 different prices, Will I be charged with stamp duty twice?

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TSduplicated
post May 9 2017, 02:19 PM, updated 7y ago

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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
post May 9 2017, 02:28 PM

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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.
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From my limited experience, it is considered as 2 trades hence you will be taxed with stamp duty twice.
chewysoon82
post May 9 2017, 03:42 PM

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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
post May 9 2017, 03:48 PM

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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.
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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
post May 9 2017, 05:18 PM

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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.
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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
post May 9 2017, 09:00 PM

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Thanks guy for the inputs. Very helpful.
I am not an intraday trader to I guess I will be taxed twice.
enriquelee
post May 17 2017, 10:16 AM

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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
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This is the correct calculation.

 

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