cfds vs shares, page-5

im reading the feb version of smartinvestor
and it says there no capital gain tax apply on CFD but it taxed as your marginal tax

"first, unlike shares or an investment property, which incur a capital gain or loss when sold, CFDs are based simply on the price of an underlying capital asset and therefore arent regarded as a capital asset in their own right. In other words forget about calculating capital gains or losses as this doesnt apply to CFDs.

any profits made on CFDs are simply added to your assessable income for the year and are taxed as your marginal tax rate, says Tony Worland , manager at BID chartered accountants in Melbourne.
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