extremely stupid article you posted, posting stupid tax ideas from a stupid internet blog
it would have been smarter to posts the opinion of a qualified accountant rather than post the internet blog of fool
it is expected, every time there is a tax thread, here, the stupid posts are guaranteed
if CFDs were gambling & not taxable, then losses from CFDs could not be claimed which pretty bad for the CFD trader if they cannot claim a tax loss for their losses.
however, CFD trading is not gambling because CFDs are commercial products (regulated by commercial law rather than gambling law) that are priced based on commercial market prices of the underlying
for example, a horse, due to its racing history, may have odds of 20 to 1. where as the price of a CFD is not based on the historical share price volatility and the probability of a share price going up or down. instead, a CFD is solely priced based on the current market price of that stock and every CFD for every different share is priced the same
the ATO have made it clear that CFD trading is generally not gambling & not taxed as CGT
there is no grey area in CFDs
read the right link from the ATO (rather than read a very stupid & dangerous blog)
http://law.ato.gov.au/atolaw/print.htm?DocID=TXR/TR200515/NAT/ATO/00001&PiT=99991231235958&Life=20050831000001-99991231235959
