If you are a registered share trader, at the end of the tax year you add up any income, including wages, rentals, share trading profits, other income, etc. and arrive at a dollar amount.
You then add up costs of doing business, interest, Body Corp and rates if rentals involved, tax already paid if wages involved, financial advice, laptops, internet costs, etc.
Subtract the costs from the profits.
If the result is positive you pay tax depending on the amount you've made.
If the result is negative you get a tax rebate.
Thats a fairly simple summary.
IMU Price at posting:
45.5¢ Sentiment: Buy Disclosure: Held
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