Alan, how does this sound
End equity
Minus Open Equity
=
Adjust for drawdowns =
Adjust for withdrawals =
Amount for tax purpose =
This is roughly the line most seem to be taking but as yet none I know have been able to get a ruling from either an accountant nor the tax mob.
Has any body out there got one or even an opinion if you are in any way qualified.
It is also best added that I am not in any way qualified to give any advice on this matter.
It is the general concensus that any thing else would be an absolute nightmare to prepare but who knows the tax mob in their wisdom.
falko
are cfd gains considered taxable, page-15
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