It’s July 1 which means the start of a new financial year.

Many Australians will be thinking about their tax refunds, which will be more than usual thanks to the latest round of tax cuts.

As well as this the superannuation rate is now 10 per cent, and corporate taxes for business has dropped to 25 per cent. Unfortunately for New South Wales and Queensland property owners, you’ll be paying higher rates.

The ASX 200 rose over 22 per cent in FY21 but has begun the new financial year retreating. As at 11.30am it was down 0.34 per cent.

At 1pm, the ASX will see the biggest IPO since 2019 in property transaction settlement platform PEXA (ASX:PEX).

While the most attention will inevitably be on PEXA’s performance come today’s end there has already been one IPO today in Australian Rare Earths (ASX:AR3) and it has come out of the blocks gaining 80 per cent.

 

WINNERS

Here are the best performing ASX small cap stocks in morning trade for Thursday July 1:

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Code Name Price % Change Volume
AR3 Austrare 0.52 73 1833648
PHL Propell Holdings Ltd 0.175 67 19145257
AFW Applyflow Limited 0.009 50 28226772
MRD Mount Ridley Mines 0.003 50 7689750
TRM Truscott Mining Corp 0.048 45 285000
FPL Fremont Petroleum 0.004 33 6741103
EMU EMU NL 0.031 29 4415680
GES Genesis Resources 0.015 25 390199
ALT Analytica Limited 0.0025 25 300000
EVE EVE Investments Ltd 0.005 25 4100730
GGX Gas2Grid Limited 0.0025 25 4000000
LNY Laneway Res Ltd 0.005 25 100000
VIC Victory Mines Ltd 0.0025 25 3425000
CEL Challenger Exp Ltd 0.27 23 8568892
PDI Predictive Disc Ltd 0.093 21 18538298
DME Dome Gold Mines Ltd 0.175 21 18500
DOR Doriemus PLC 0.3 20 87554
SHO Sportshero Ltd 0.025 19 887018
CI1 Credit Intelligence 0.019 19 18952661
KNO Knosys Limited 0.16 19 237711
RHP Rhipe Ltd 2.44 17 1543376
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Tech made up many other spots on the ASX winners list on this first day of the new financial year.

Fintech Propell (ASX:PHL) announced it was offering BNPL to its SME client base.

Rhipe Ltd (ASX:RHP), a reseller of cloud computing products, received a takeover bid from Norwegian-listed Crayon Group. While the board has not yet endorsed the offer it has allowed Crayon to undertake due diligence.

Workplace management company Knosys (ASX:KNO) announced a snap up of its own, in library management software business LIBERO.

In resources, winners included gold plays Predictive Discovery (ASX:PDI) and Challenger Exploration (ASX:CEL) off the back of their latest exploration results.

 

LOSERS

Here are the worst performing ASX small cap stocks in morning trade for Thursday July 1:

Swipe or scroll to reveal the full table. Click headings to sort.

Code Name Price % Change Volume
CLZ Classic Min Ltd 0.0015 -25 100232688
PCL Pancontinental Oil 0.0015 -25 300000
KEY KEY Petroleum 0.0025 -17 2834607
ZMI Zinc of Ireland NL 0.056 -16 60362
BOC Bougainville Copper 0.51 -15 50806
OEX Oilex Ltd 0.0035 -13 2046933
STK Strickland Metals 0.04 -11 1044604
ARO Astro Resources NL 0.004 -11 1100000
AYM Australia United Min 0.008 -11 56666
MEL Metgasco Ltd 0.026 -10 202817
DDD 3D Resources Limited 0.0045 -10 2101792
EN1 Engage:Bdr Limited 0.0045 -10 1730000
MCT Metalicity Limited 0.009 -10 1390000
FRM Farm Pride Foods 0.38 -10 1000
WML Woomera Mining Ltd 0.02 -9 74433
PSL Paterson Resources 0.042 -9 512921
TTM Titan Minerals 0.11 -8 15000
PTX Prescient Ltd 0.225 -8 4257824
NZS New Zealand Coastal 0.012 -8 3000000
ACW Actinogen Medical 0.12 -8 5352600
ARC Aust Rural Cap Ltd 0.24 -8 6384
IRD Iron Road Ltd 0.245 -8 517781
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