Tax - which is the "best" Sale Allocation Method (LIFO, FIFO, Minimise CGT etc.)?

So I have been running the Capital Gains Tax report on my portfolio to get an idea of what I’ll be looking at for tax time approaching (Australia).

And while I understand the basics of the function of each of the main Sale Allocation Methods, is there generally any ‘blanket’ one that most people choose which will be the best in most situations?

As in, I am struggling to see any reason why you wouldn’t use the “Maximise Gains” setting? The choices are:

  • First In, First Out
  • Last In, First Out
  • Maximise Gain
  • Minimise Gain
  • Minimise CGT

all of them for me work out the same except for Maximise Gain, which makes my Claimable Loss figure lower.

What setting do you typically use for this? And what am I missing? Thanks!