Share trader can register an ABN and register for GST.
On the quarterly business activity statement (BAS), share trader can receive a refund of 75% of the GST on brokerage.
The other 25% is claimed as a deduction in the income tax return.
Otherwise, if not registered for GST, the GST is included as a deduction in the tax return. However, by claiming in the tax return, only 40% (tax rate is refunded).
tax return and share trading, page-21
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