tax office wash events

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    Tax office will deny a capital loss/gain on any shares being sold and bought back in a small amount of time to trigger a tax loss or gain.
    The greatest thing of owning shares is they are liquid and the tax office want to quash this.
    Where do they draw the line in the sand?
    What stops me buying calls on a loosing stock and then triggering a capital loss?
    Over what time is considered a wash event?
    Any thoughts please?
 
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