Australia's largest stock trading and investment forum Australia's #1 stock forum

https://community.ato.gov.au/t5/Business-registration/Share-Trade...

First 15 Last

Share
Profile

Follow
winnetwo

1,491 Posts.

33

31/12/20

12:46

Post #: 49882943
Share

Originally posted by Golden Fleece: ↑

Hi ziyou

Brokerage is classed as a financial service and therefore only 75% of the GST can be claimed; but you get the GST input on both sales and purchases brokerage fees

Agreed just treating all shares as inventory is certainly the easiest and simplest way to go; but keeping each buy and sell in a spreadsheet gives you the option of which particular shares you want to sell and so maybe minimise tax if you have had success with other shares

I know what you mean about accounting fees, but as an accountant I don't have to worry

At the end of the day whether you claim GST or not does not make any difference to your overall profit or loss

Expand

https://community.ato.gov.au/t5/Business-registration/Share-Trader-amp-GST/td-p/1521

For those who wish to do a bit more research

W2
Upvote

0 Great analysis

Reply

Top Stories

Super PITch gold sponsor RSM Australia: Can Diggers & Dealers 2024 be key to reinvigorating IPO activity?

MTL

Mantle Minerals' Nick Poll talks to HotCopper on finding gold grades up to 3.57g/t at Mt Berghaus

AIZ

Air New Zealand ditches 2030 emissions targets – right as ASIC's Scope 3 reporting changes kick in for FY25

KSN

Mineral Hill transition kicks off for Kingston, gold and silver ramp up to follow

HIQ

HIT IQ has US patent for concussion management tech approved

There are more pages in this discussion • 5 more messages in this thread...

First 15 Last

SPONSORED BY