"I think ATO COULD tax the whole lot at marginal rates, so be careful, and quiz that accountant(s)!
I know of some (e.g. @vmp) who hold two trading accounts to keep their LT holding at arms-length from their trading parcel. In my mind I would think that your action of 'identifying a parcel as LT' should be sufficient for the same purpose, but I am very interested in someone with REAL experience / training in this regard to comment."
It is fine to be classified as a trader and also have long term holding eligible to obtain a CGT discount. Good record keeping is the key to specifically identify long term holdings. I indicate these separately with each tax return preparation so that my accountant has these on record, even if long term holdings are not sold yet. Keeping in a separate share account is good for clarity but not essential.Not sure about being able to lend to yourself so that you can short your own LT holdings, ATO would find it...interesting
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