trust fund for investment and trading, page-12

china...you really need some good tax advice..
sale of shares under 12 months is not ordinary income....but subject to capital gains....however because they are not held for 12 months there is no 50% discount on the capital gain............hence the whole amount is taxable....compared to 50% taxable if held for over 12 months
and losses from shares is offset against total gains.....before applying any discounts

and you will have losses
cheers