new2market Go to www.ato.gov.au then go to business. Also speak with your tax accountant. When I started full time trading 6 years ago the questions you have are the same going through my head. Your questions answered as follows - 1 As a sole trader we do not qualify for an ABN. 2 Only private and public companies pay 30% flat tax rate. 3 Sole traders draw an income from gross profits however this is not classed as an expense for tax purposes. 4 If you are an employee earning over 20k pa net proceeds from the sale of shares are deemed to be capital gain and not income so therefore the tax rate is 45% capital gains tax. Capital losses can be carried over to off set tax payable on other income. 5 The Taxation Office deems a full time trader by the number and amount of trades pa. Hope the above helps. This is not professional advice and strongly recommend speaking with your accountant to better understand your situation.
