Short Term Trading Weekend lounge 2nd-4th Dec, page-105

@Rollsroyce13 obviously if you don't report every trade you risk incurring the wrath of ATO. Probably quite easy for them to pick this up given the electronic nature of things, but don't think they will care TBH unless you're raking in millions from not reporting trades

People in the investing business are classified as either investors OR traders. The definition is quite complex and has been challenged recently apparently, but the gist of it is that if you rely on trading as your primary source of income or you spend a LOT of time on it as a secondary income you may be a trader. Investors are those who tend to hold stocks for longer periods of time. Your classification as trader/investor has implications for what tax deductions you can claim. It also gets more complex claiming the 50% capital gains tax discount if you're classified as a trader. (you get the 50% discount on gains you make if you've held a parcel of shares for longer than a year).

What I've typed above is a very brief overview of the tax situation for shares - and is only what I've gleaned. My advice, get a GOOD accountant or do a lot of research yourself. I'm not an accountant or in any way qualified in that field so take the above with a pinch of salt