VKV,You can offset your losses against income if the number of...

  1. 300 Posts.
    VKV,

    You can offset your losses against income if the number of trades you do are over a certain threshold per year (but I don't remember the exact figure), you can then claim them as trading loss instead of capital loss. I did that in 2008 and 2009.

    Can't recommend you my accountant though because she just does personal tax returns as a side job and for her personal friends only. I do know of an accountant in Melbourne who does tax returns for a couple of professional traders if you're interested, but I don't want to post details here. I was told he's expensive though.
 
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