I have used an accountant for a long time now, so i may be a little vague on some facts. But what was explained to me was you can either be an mum and dad investor, or you can be a registered trader, to do this you will need ABN and a yearly turnover of 20K plus (so 1 10k buy and 1 10k sell will qualify). The gain / loss just gets added to your taxable income.
By doing this you can write off all of your subscriptions, training material, seminars, computer depreciation, phone and accessories, internet, power to your office.... yes, you will need an office so then you can write of 1 room in your house. If you had a 4 bedroom house, then 1/4 of the mortgage interest and other bills are included. Get yourself a nice desk, chair and a laptop for when you are trading on the go.
But once you start getting good yearly gains, you will be better off starting a company and trading under that, as the tax benefits are more in your favour. DYOR, everyone's situations are different.
