Hey guys hope you're having a good weekend.
I've been looking at tax structures and from my unverified understanding any trading profits you make are taxed under your individual tax rate (if you're one of those mythical traders who make hundreds of k then you would pay 49% of your profit i think over a certain amount) - and I think this means that even though we want to compound our accounts we need to pay the taxman every year.
Has anyone had a good look into forex and tax in Aus? A couple links below for reference.
https://www.daytrading.com/taxes/australia
https://www.wealthsafe.com.au/wp-content/uploads/2014/11/The-Tax-Intelligent-Traders-Manual.pdf
