are you trading or investing ?

It is important that those trading swaps between the partners check out their tax liabilities. The tax situation is much different for those investing in the three than those trading in the three. It is because of my frequent trading these in the early days that I was classified by the tax department as a trader and not an investor. This can be a grey area and the tax office will probably use the rules to their best advantage and not to the advantage of the tax payer.

Hasten slowly with this swap trading there could be a big bill at the end.

The good thing about tax is that you make a profit before you have to pay any. At least they leave you some.