do you classify yourself as a trader or investor with the tax man -by the sounds of it you are a trader
I've set up 2 bell direct accounts -one under my wife's name and 1 under my name
the long termers are under my name - and i trade with my wife's account
this way I can claim the interest on my investment loans etc...under my name and avoid capital gains tax with my wife's account
therefore I'm trying to be an investor under my name and a trader under my wife's account
Anyone else doing this? I'm very new to this game and not sure if I'm doing the right thing - In many ways I'd rather just keep the lot in my account and trade occasionally (- but i don't want to trigger too many capital gains )- that's if i keep myself an investor with the tax man.
As an example I haven't sold IDL ( and yet i probably would have done something similar to sskim as IDL has been in a trading range from 42c to 48c) - bought at 17c and I know i will trigger a big capital gain
thoughts anyone?
IDL Price at posting:
$1.32 Sentiment: LT Buy Disclosure: Held
