Wash Sale has become a term to describe a sale by an investor to crystallize a capital loss, with a repurchase almost immediately of the same investment.  This would be done to offset an existing Capital Gain before the end of a financial year.

The Australian Taxation Office view is that there is no change in risk and for a number of reasons it could disregard the transaction.

A prudent investor would ask their Advisers how to be successful in their intentions.