LYC 0.00% $6.40 lynas rare earths limited

OK -firstly I'm not an accountant, tax adviser, or financial...

  1. 8,916 Posts.
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    OK -firstly I'm not an accountant, tax adviser, or financial planner, everything is just my, hopefully informed, view!

    'May I ask you:

    1.) Right now I trade online with my PC. I'd like to get an i-phone for it as well. Do you have any idea which is the best phone for that purpose?

    Never done it, but be careful with finger trouble !!

    2.) I see some posts mentioning about selling in June for Tax loss purpose & I can't quite get the reasons. As I've bought in some shares lately & they are in red slightly, do I need to do that? (I have no taxable income so far up till now, but may have some in coming year)

    One can offset losses against gains, so many folks with a gain in the tax year will sell the 'bad apples' to mitigate any tax liability. They may then buy the bad ones back next tax year.

    3.) A poster here says that if one does more than one hundred trades a year, one will (or may/ could - can't remember) be considered as trader & therefore not subject to tax. You have any advice?'

    Difficult one that. You may be able to convince the ATO / IRS that you are a professional trader, but watch out for some questions about your trades in previous years. And of course next year you will be expecting to make a profit (why be in the market if not), and then you will be taxed as a trader. Not for the faint hearted and probably for most posters on HC not a good idea.
 
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