Actually because I'm a NZ tax resident the rules are different to Australia. Basically we have no capital gains tax BUT anything you buy with the intention of selling (not just intending to sell for a gain) is taxable on the gain, basically added on to your other income so the rate can be high or low depending. I see specys as falling into the taxable category. However I would far rather have the Australian system as it is more clear cut. And losses are not deductible unless you are a trader in which case all gains are taxable.
