Novo Resources Corp T.NVO

Alternate Symbol(s): NSRPF

Metals & Mining Gold

Novo Resources Corp. is a gold explorer focused on discovering gold projects. The Company is engaged primarily in the business of evaluating, acquiring, exploring, and developing natural resource properties with a focus on gold. It has a land package covering approximately 5,500 square kilometers in the Pilbara region of Western Australia, along with the 22 square kilometer Belltopper project in the Bendigo Tectonic Zone of Victoria, Australia. Its key project area is the Egina Gold Camp, where De Grey Mining is farming-in to form a JV at the Becher Project and surrounding tenements through exploration. The Company is also advancing gold exploration at Nunyerry North. It focuses on undertaking early-stage exploration across its Pilbara tenement portfolio. It has also formed a lithium joint venture with SQM Australia Pty Ltd (SQM) in the Pilbara, which provides shareholder exposure to battery metals. Its Belltopper Gold Project comprises the adjacent Malmsbury and Queens projects.

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Novo Resources Corp > Capital Gains Tax on sale of NFG shares

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Comment by JRafflesUKon May 24, 2022 12:13pm

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Post# 34703895

RE:RE:Capital Gains Tax on sale of NFG shares

Many thanks,
The estimated $10m tax on a gross gain of $106.5m ($7.1 per share x 15m) seems to be quite reasonable.
The total gain has been multiplied first by 0.38, then by 0.25.
I assume that 0.25 is the capital gains tax rate.
Not being familiar with AUS tax law, what does the 0.38 reduction of the gross gain, before applying the tax rate, relate to?

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They started in video game investing, now they serve high net worth traders