BTW, I download the tax report generated by the trading account (E-trade) and provide that to the accountant, and they haven't questioned further (personal and SMSF trading). I look at it and there are bits that I just don't understand. I remember once asking the accountants to explain it, and I knew what they were implying, but I realised it was going to take brain cells and time which I needed working for my business, so that's where things sit for me.
My opinion piece I feel needs to be said: Everyone wants a piece of your business, WHS, Tax, Stamp duties, Lazy bastards who think they have the right to steal, suppliers (who come with their own entourage of parasites) etc etc. I understand and adjust to/accept this, but I try to dedicate my time to focus on the part of the business I do best and leave the other bits to the accountants, insurance, advisers and so on. Otherwise the tail starts wagging the dog too much. A family business (small enterprise) should be paid much greater homage in the psyche of the larger culture, seems they bear the risk and burden disproportionately in terms of knowing everything needed -then we get into public shame if we make an honest mistake due to some ATO complexity or WHS procedure 'beyond the pail' of normal understanding or standard operating procedures. We work for years or in many cases decades without holidays, and even when you steal a weekend away, your worrying about something. Its a tough gig, but hopefully the end justifies the effort.
