for tax purposes, page-24

rjs99

I'm not so sure that I agree with the many varied comments.

From my discussion with the ATO unless it is a declared super fund it is treated the same as any other business trade ie; profit v loss from start to finish of a financial year.

If you trade as a company, losses and tax paid dividends etc, can be carried forward.

As a private trader your losses or profits from trading regardless of when you buy and sell conclude at the end of each financial year with no carry forward profit and loss.

Depending on the volume of trades you may also be required to provide an annual audit on your account.

Your holding stock value is not considered as that changes daily.

So from what I've gleaned unless your account is a declared self managed super fund it doesn't matter how often or when you trade, they simply review an EOY P&L status. However, it does depend on the volume of trades as to whether your account requires an annual audit or not.

If you held consistently without regular trading say 100,000 BHP shares over the past 10 years then I would seek an accountants view regarding capital gains or losses. From what I've gleaned your trading account can be set up many different ways and all effect your ATO requirements differently.

For this reason I just pay my accountant to do what's necessary, I reckon that's the best bet.

Just my thoughts.

In conclusion I reckon you're far better off to trade than hold in today's market.

CASH IN HAND AT THE END OF DAY is always better than being somewhere that you can't control. The EURO and global situation is changing daily if not hourly.

Just my opinion....not advice

GL DYOR IMHO