Short Term Trading Weekend Lounge: 10-12 Feb

Originally posted by Aljini ↑

I use all of the above.

Family trust: I have a family trust that has a stockmarket account and a CFD account. This is where I do all my investment and trading outside of my SMSF. I have myself, my partner and a (balloon) company as beneficiaries. I disperse any profits that will be taxed at over 30% to the company (after dispersing to my partner). This way I can still claim the capital gains discount.

SMSF: I invest and trade in my SMSF. The CGT rate inside the fund is 10% and all other income is taxed at 15%. You can buy and sell assets (including shares) to and from your SMSF as long as it complies with the sole purpose test. In regard to buying and selling shares to related parties they must be done on an approved exchange and at market value (Can use off market transfers).
Click here for information on the sole purpose test
Click here for information on acquiring assets to and from related parties in a SMSF

My name: I use my name to transfer losses to. I worked FIFO work so I am in the top tax bracket. I use an off market transfer (can backdate 90 days) to move losses into my name where possible to reduce my taxable income. "Asset protection". This is recorded as "revenue" as opposed to capital gain. You must declare yourself a professional trader to do this.
Click here for information on what the ATO class as a professional trader.

I am simply stating how I use these different investment vehicles.
I am not a financial advisor or an accountant. This post does not constitute advice.
Advice should be sought from qualified professionals.

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Thanks for the input mate. Its a great help.

Unfortunately my accountant told me that in the ATOs eyes I'm a professional trader and have lost my ability to claim my capital gains discount. So I intend to no longer trade regularly in my name.

I've recently set up a family trust for the exact reasons you've stated. It's great to hear that its a concept that works!

Thanks again mate.

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