BNB babcock & brown limited

do not buy this stock please, page-21

  1. 106 Posts.
    You can offset a capital loss against income if you are classified as a share trader.

    Otherwise you cannot do this (ie you have to offset against a capital gain)

    it is also possible to have your portfolio split - into both 'traded' shares and those that form a core portfolio. This way you can use both accounting methods.

    Be aware though, the ATO has quite strict requirements on sharetraders AND you have to value your portfolio if you make gains (ie paying tax when the market booms even if not selling your shares)

    J.

    See an accountant for more info.
 
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Currently unlisted public company.

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