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Golden Fleece

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25/02/21

18:27

Post #: 51334908
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Originally posted by omegakyo: ↑

Hello, hoping someone can answer me this.

Over the last 8 months I have done close to roughly 100 trade thru ASX and received a moderate return around 20k, but i also have cryto back from 2017.

Lets say before the current financial year ended i have sold everything and receive 30k profit from short term trading and 50k profit from cypto. Do I still get the 50% CGT discount on the 50k from cpyto while, classified as a trader?

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In reply to the heading of your post

"Can you be classified as a share trader and still get 50% cgt"

No - everything is on revenue account

I see you have only been here for 6 months and may not know your way around but I suggest you look at the various forums - for example, if you read some of the tax topics and also ASX general you will find endless questions and answers on trading and CGT

You might also want to research the ATO website

Just my humble thoughts

Last edited by Golden Fleece: 25/02/21
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