Actually I've recently noticed another bit in the tax guide IR3G which is relevant. It says
Losses from the sale of shares or other property.If you made a loss and can show that if you'd made a profit, it would have been taxable, you may be ableto claim the loss as a deduction.
Well, if you've been paying tax on speculative gains, that would seem to show that the loss on a speculative investment could be tax deductible as you would have paid tax on it if it were a gain. Could be worth a try.
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