Winnkinatcha your statement is as I was told. ie you must register as a trader to offset capital losses against income from any source. The no claim for losses on stocks not income producing was an ATO ruling. As these stocks are calassified as speculative they do not qualify for claims of capital loss. But do qualify for claims of capital gains. I know it dosnt sound fair but who are we to argue. Still claim them and you will 9 out of 10 have them approved. But if you are audited you will not.
LNC Price at posting:
$1.90 Sentiment: Hold Disclosure: Held