Exactly MY point to my accountant.... I am an INVESTOR who trades the stocks in my Portfolio. ( My portfolio has a FOCUS = GOLD and I have TRADED/INVESTED in Gold and Gold Stocks for the past 6+ years).
It was an academic discussion, which really has no answer.
Good Luck with your SMSF - It worked well for me ( Co incidentally, I began ours in 1995 with $30K to pay 15% Tax instead of 30% Company Tax.)
