Duminda, excluding self managed superfunds, my understanding is that tax on Australian trades by Australian residents may be levied in one of three forms (a) long term capital gain i.e shares held for more than a year and taxed at 50% of the tax payers marginal rate (b) short term capital gains i.e. held for less than a year and taxed at the tax payers marginal rate or (c) trading gains, the profit of which is taxed as income. The ATO will assess the tax payer on the intention of the trades; if the intent is to buy shares for dividends then any gain or loss is normally considered a capital gain/loss; if the intent is to trade then it is a trading gain/loss. Overseas shares, CFD's etc may be taxed in a different way. The above is my understanding, but I am not an accountant, just a share trader.
PDYOR
BLT Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
