Ann: Capital Raising, page-67

I have just spoken to an accountant over the phone and she said not possible. She said I may very well get away with it, but it will flag with the ATO, and they would eventually look into it. She said for most people it comes back to whether or not you make majority of your income from share trading, which I definitely do not. These shares were also purchased 3+ years ago and while I had a lot of trades back then, I do not have many in the last 2 years which points to myself being classified as an investor even though at the time I may have been able to classify myself as a trader.

TLDR; no, too risk, ATO will eventually investigate and she said they usually classify based on majority income.