Sniperdoing your tax as a trader is simple1. download your...

Sniper

doing your tax as a trader is simple

1. download your annual account via Excel

2. sort into 'buys' and 'sells'. remember to include any SPP, IPO, DRP purchases into your buys

3. add up buys = purchases. add up sales = gross income

4. use closing stock from last year as your current year opening stock (this is compulsory)

5. to reduce your tax, calculate your current year closing stock using the lower of market price or cost price for each share

6. each fits into the tax return business schedule in its own slot

NOTE: chosing the minimum value closing stock will reduce tax for the current year but increase tax in the next year