For tax purposes their are 2 types of share traders......'investors' and 'Traders'. 'Traders' losses align with your income and the govt will pay back 30% of losses to the individual....they will also tax you 50% on gains.
Investors can carry losses forward and the losses will negate any future gains.....as previously mentioned in this thread.
There are rule to qualify as a trader, however most traders using cfd's would qualify. Take a look at the ATO website for further info or speak to your accountant.
Regards.
FGE Price at posting:
91.5¢ Sentiment: None Disclosure: Not Held
