register as a sole trader?, page-14

Howdy greenscorpio0

I am not a tax consultant.

But if you treat it as a business then expenses are allowed, no doubt, be real though!!

Maybe same online broker but different accounts
Trading account
Investment account

Some simple examples on the ATO re difference trading/investment.

Record all transactions, I class each buy parcel as a separate action even if for the same stock. Thus the same for each sell parcel.

For example
Buy 1: 1000 BHP
Buy 2: 500 BHP
Buy 3: 750 BHP

Sell:
Sell 1: 1000 BHP
Sell 2: 750 BHP
Sell 3: 500 BHP

trading plans:
% of stock holding for different sectors or MC or LTs, STs or DTs,
% for stop loss or sell
Treat each transaction as a cost or income (thus reduce emotion)
I will not chase a rising share price (that is me)
type of T/A ( I keep it very simple)
Type of F/A ( I keep it very simple)

etc etc etc

Hope that helps a little :-)