Originally posted by beefsoup and Co
When identified as trader
I found there is a 50% discount on CGT, not the hold over 12 months one, but sth to do with small business allowance or sth
So thats like if i made 10000 dollars, just because i identify myself as a trader so i instantly have a 50% reduction on CGT
Is it like that
Hi Beef,
If you are a trader, there is no CGT, no 50% discount on CGT. your share trading profit is 100% taxable income without CGT discount.
you end up pay more tax as your property loss is investment loss, which can not offset share trading profit,
if your property is under property development, then you may off set your share trading profit.
