Hey All, quick question if anyone could help please. I'm from NZ, but live in Aus and therefore am a resident for tax purposes. In NZ you are either a trader or an investor - ie if the taxman deems you a trader you pay full captain gains tax on any profits, even if the shares were held long term. "Once a trader, always a trader". Is it the same in Aus?
My current situation is that I want to trade in Aus more actively, however I have long term holdings that I can get a 50% CGT discount on and don't want to lose that privelage. So my main question is can I short term / day trade, but also receive a CGT discount on my stocks held for over 12 months? Or is it just one or the other - but not both?
