daytrades sep 28 afternoon, page-248

hi cloudwalker

my understanding of GST (but definitely check with your own accountant) is that you can claim 75% of GST on brokerage fees.

77k/11
7k x 75% = $5250

The amount of rebate paid to you is then added on top of your taxable income and taxed along with your other earnings.

If the figure used above $5250, is taxed at 40% for example, there would be $3150 GST rebate remaining after tax paid on it.

http://www.ato.gov.au/businesses/content.asp?doc=/content/17956.htm&page=4#P411_42062

If you want to discuss further

webralathotmail dotcom