Brown, Philip; Ferguson, Andrew; Sherry, Sam - In: Accounting and Finance 50 (2010) 4, pp. 783-808
We calibrate the effect of Australia's Capital Gains Tax (CGT) on share prices and market activity. Based on a large sample drawn from all listed Australian companies for the years 1994-2007, we find significant tax-loss selling (TLS) of shares that lost value over the financial year, which is...
