i dont think he has any taxation/ATO or centrelink problems to be honest
its his money to do what he wants
if he makes a profit at the end of the year he has to declare it in his return, if he loses it he starves
unless you have 20k in share sales or a portfolio of 100k(maybe 150k not sure) you are an investor not a trader
if he uses OTC CFDs it may be the same, but I have read somewhere that can be considered the same as gambling on the horses
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