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Day Trader’s Aftermarket Lounge 7 Sep 2020, page-106

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08/09/20

07:53

Post #: 47159363
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Originally posted by Cthomp ↑

Hi Jimmy / Others,

I was hoping someone might kindly link through some user friendly information regarding the logistics of setting up a secondary account for short term trading. I would like to dabble, however would also like to keep things seperate from the stocks I intend to hold longer term. Does this more or less just involve creating a second account with a second HIN?? The second thing that has held me back in the past is the tax implications, am I correct in thinking there is a blanket rule that capital gains made on anything bought and then sold within a year is 50%?

Any suggestions would be most appreciated.
Cheers
Chris

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me trades at opening stock each year and then closing stock each year.

The equation is simple add the all the buys and sells and expenses put those in the formula and that is your business income for the year.
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