HI Everyone
I realise this probably isnt the best forum for a question like this as its not property related however im sure plenty of people would be able to help me out with my questions.
I'm thinking of starting a share portfolio as a long term investment. I currently own one IP and will be building my PPOR soon.
I currently own 550 Telstra shares I bought when I was around 20yrs old didnt have much money then and its all I could afford. Im now thinking of investing either $10000 or $20000 on shares. Most probably will dive in with $10000 and see how I go. Im looking for long term growth with a fairly ok dividend I guess just wondering would I be better of picking one company and spending the whole $10000 or spreading it across maybe 3 companies?
I was thinking of starting up a commonwealth bank mywealth account you can apparently trade shares for $20? I have also heard of people that trade daily to make money on the ASX. Im guessing if you did this your tax return would be very very messy as apparently you have to pay 50% Capital gains tax if you dont keep the shares for a full year? Does anyone know someone that does trade daily on the sharemarket apart from a stockbroker? I would be interested to see how it all works out for them.
Also would I be better using $10,000 I have already sitting in a bank account or taking out a personal loan to buy shares as I have heard you can claim the interest back at tax time as its an investment? Just wondering what tax implications I might create by buying shares? I have $10,000K sitting around but would I be better leaving it against my ppor and just taking out a personal loan?
I realise this probably isnt the best forum for a question like this as its not property related however im sure plenty of people would be able to help me out with my questions.
I'm thinking of starting a share portfolio as a long term investment. I currently own one IP and will be building my PPOR soon.
I currently own 550 Telstra shares I bought when I was around 20yrs old didnt have much money then and its all I could afford. Im now thinking of investing either $10000 or $20000 on shares. Most probably will dive in with $10000 and see how I go. Im looking for long term growth with a fairly ok dividend I guess just wondering would I be better of picking one company and spending the whole $10000 or spreading it across maybe 3 companies?
I was thinking of starting up a commonwealth bank mywealth account you can apparently trade shares for $20? I have also heard of people that trade daily to make money on the ASX. Im guessing if you did this your tax return would be very very messy as apparently you have to pay 50% Capital gains tax if you dont keep the shares for a full year? Does anyone know someone that does trade daily on the sharemarket apart from a stockbroker? I would be interested to see how it all works out for them.
Also would I be better using $10,000 I have already sitting in a bank account or taking out a personal loan to buy shares as I have heard you can claim the interest back at tax time as its an investment? Just wondering what tax implications I might create by buying shares? I have $10,000K sitting around but would I be better leaving it against my ppor and just taking out a personal loan?