tax on capital gains, page-19

  1. Ocker
    10,372 Posts.
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    17/04/17
    18:27
    Post #: 24099942
    If the ATO accepts your "trader" status, then whether you are trading shares or potatoes, the same accounting prinicple applies:
    a) Value of opening stock = $x
    b) +/-, sales/purchases of stock = $+/-y
    c) closing value of stock = $z
    "trading" income for the year = x ((+/-))y -z
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    lightbulb Created with Sketch.  Great analysis
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