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. in a trust / company it's call memorandum of wishes minutes...

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aimone

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02/01/18

14:48

Post #: 29985554
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Originally posted by debono ↑

ddzx has it all covered. The easiest way to prove your trading intentions is to write a small business plan for each account stating your intentions. Just because you have a longer term investment account doesn't mean you can't buy and sell within shorter time frames however if you constantly trade in and out, a ruling maybe made that this is in fact a trading account. There is no hard and fast rules as to how the ATO can apply this judgement and many accountant also have slightly varying interpretations. If you decide that a short term trade infact becomes a longer term hold then you can transfer it across to the other account and the 12 months starts from then for CGT discount.

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in a trust / company it's call memorandum of wishes minutes journal or the like

Last edited by aimone: 02/01/18
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