Day traders' hoorah-it's-the-weekend lounge January 13 - 15, page-58

  1. 17,557 Posts.
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    An ABN is just a business identifying number .
    You say you have made many trades per year ?
    In what entity ?
    -Your own name ?
    -A company ?
    -A self managed super fund ?
    -A family trust ?

    Each of these entities have differing taxation benefits or compromises .

    If you want to be a trader in the eyes of the ato then remember gains can offset losses in the year . At June 30 your portfolio is valued and any gains / losses in value whether sold or not is to be included in tax return . The portfolio value starts again on July 1 for any gains or losses in the year .

    ( or at least I think so - not advice )
 
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