Hi all, I have been trying to find out my options with my tax return this year. I have a day job earning between 80 and 180k bracket, but this financial year I have been getting more and more into day/short term trading, obviously for a profit. I would have done 100 trades or more in the year.
It seems there are 2 ways to go about it, get taxed as a shareholder or a sharetrader. As a trader, which I believe I am, it seems I can claim a capital loss of which I definitely would have all said and done this year. Too many costly lessons in the early days. I also believe I can claim brokerage and other 'business' related expenses such as software subscriptions, books, office space, internet etc
Any tips on how to approach this, from the seasoned players out there? I will obviously chat to my accountant but would appreciate HC thoughts. Cheers
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