This is very informative , thank you Have a question, I kind of fall under share trader and I do have a regular income . I have bought shares with an investment of let's say $10k and with buying and selling I am sitting at $6k in cash (have bought a share again for 6k just before 30th June) . Could you please help me understand how to treat the 4k loss in my returns . Thanks in advance
Hi Davie, I`m actively trading in Stocks on daily basis. Kindly suggest if I can setup a company and do trading to claim tax benefits for Trading Software yearly fees e.g. Tradingview and System/admin expenses? If yes, how can I do that in any related video or article?
Thanks Davie. These videos are extremely helpful. Appreciate you making it. I do have a question around the "Trader" status. Based on my transaction history, I do fall under the trader classification. However, there are securities in my holdings that I purely have for long term investments (they are in the same brokerage account). On those securities, I don't actively trade them, and I purely just hold them for long term appreciation. My question is, is the trader / capital gain status on a per security basis, or is it on a per brokerage account basis, or is it on a per person basis?
Hi Davie! I was a share investor for many years, buying australian shares and holding for years and then selling. I sold some australian shares at a loss and it would be pretty straightforward for me to do my taxes as an investor. however, some months down the track (same financial year, '22/'23), i began trading US options and i did this almost daily. I'm still trading now. I figured that i now classified as a share trader and registered for a sole trader ABN. now come tax time, i'm really confused as to how i would carry forward my losses from my australian shares to future CGT gains because i now i have an ABN and the tax is done differently to a share investor. i did make a small profit on my US options trading as well. so when i report my CGT loss do i subtract my profit from the sale of US options from the loss from my australian shares and enter that amount in as the CGT loss? I also made under the tax-free threshold when totalling all of my sources of income this past financial year. could you please shed any light?
Atm I'm doing writing covered calls being trained by fokas beyond, been doing it for 3 years haven't inform my ato. What will happened and any suggestions? Every 6 months I close my super fund as I'm contributing extra 16%. I'm averaging around 10 p/month. I'm 66yrs old casual work. I don't own a house renting. Thx
Hello, Would you need to register for an ABN to be applicable for the share investor benefits and deductions? Also if you had a funded trading account under a prop firm would it be considered capitals gains on the money you make from that account or is it considered being an independent contractor for the firm, lowering your tax amount? Thank you
Be great if you did a specific video for an employee who gets shares through an ess. Keep it 3 to 4 mins max. Nice diagrams, spell it out. I cannot find a video, I cannot find a nice simple example on the ATO's website? (I am guessing the info is suppressed so accountants can stay in business...?) All the best!!
When I exit on a trade and I withdraw my profits, am I automatically taxed through the process by the ATO, or do I need to manually report my earnings?
I have learned more from this video than from my accountant. Thanks
Happy to help! Thanks for watching!
Your videos are always great and so helpful :)
Glad you like them!
This is very informative , thank you
Have a question, I kind of fall under share trader and I do have a regular income . I have bought shares with an investment of let's say $10k and with buying and selling I am sitting at $6k in cash (have bought a share again for 6k just before 30th June) .
Could you please help me understand how to treat the 4k loss in my returns . Thanks in advance
Thanks Dave for a clear and concise video 👍. Could you please do a video specifically on how to claim capital loss when lodging tax returns? Cheers.
Thanks mate
That question hasn’t been asked before. But will add to our to do list over videos :)
Hi Davie, I`m actively trading in Stocks on daily basis. Kindly suggest if I can setup a company and do trading to claim tax benefits for Trading Software yearly fees e.g. Tradingview and System/admin expenses?
If yes, how can I do that in any related video or article?
Would love to hear how the benefits/downside of buying shares through a company structure and how the tax works.
check out our company videos on pros and cons thanks!
Thanks Davie. These videos are extremely helpful. Appreciate you making it.
I do have a question around the "Trader" status. Based on my transaction history, I do fall under the trader classification. However, there are securities in my holdings that I purely have for long term investments (they are in the same brokerage account). On those securities, I don't actively trade them, and I purely just hold them for long term appreciation. My question is, is the trader / capital gain status on a per security basis, or is it on a per brokerage account basis, or is it on a per person basis?
I am intra-day trading with my personal account, is it better in tax for me to trade under family trust or company?
Hi Davie!
I was a share investor for many years, buying australian shares and holding for years and then selling. I sold some australian shares at a loss and it would be pretty straightforward for me to do my taxes as an investor.
however, some months down the track (same financial year, '22/'23), i began trading US options and i did this almost daily. I'm still trading now. I figured that i now classified as a share trader and registered for a sole trader ABN.
now come tax time, i'm really confused as to how i would carry forward my losses from my australian shares to future CGT gains because i now i have an ABN and the tax is done differently to a share investor.
i did make a small profit on my US options trading as well. so when i report my CGT loss do i subtract my profit from the sale of US options from the loss from my australian shares and enter that amount in as the CGT loss?
I also made under the tax-free threshold when totalling all of my sources of income this past financial year.
could you please shed any light?
Atm I'm doing writing covered calls being trained by fokas beyond, been doing it for 3 years haven't inform my ato.
What will happened and any suggestions?
Every 6 months I close my super fund as I'm contributing extra 16%.
I'm averaging around 10 p/month.
I'm 66yrs old casual work.
I don't own a house renting.
Thx
Hello,
Would you need to register for an ABN to be applicable for the share investor benefits and deductions?
Also if you had a funded trading account under a prop firm would it be considered capitals gains on the money you make from that account or is it considered being an independent contractor for the firm, lowering your tax amount?
Thank you
Be great if you did a specific video for an employee who gets shares through an ess. Keep it 3 to 4 mins max. Nice diagrams, spell it out. I cannot find a video, I cannot find a nice simple example on the ATO's website? (I am guessing the info is suppressed so accountants can stay in business...?) All the best!!
Spell out vesting and possibilities of extra tax on exchange rate if selling intl shares. Also mention (is it 7 years? For zero CG's?) Cheers
Will definitely look into it, mate. Great suggestion!
Hi Davie
On my tax return profit(I got small profit this year). is it deduct my selling and buying brokerage fee?
Tnx
Hey bro if I sell 18k worth of shares and haven’t earned an income this year so I have to pay tax ?
How much tax from dividends apply when I hold BHP from the UK? Does someone now?
If you are DCAing over time and building up a position, how do you determine the capital gain / loss when you sell a parcel at some point?
I have the same question. God I hate taxes.
Thanks Dave 👍
No problem :)
Thanks Davie. Is interest on marginal loan tax deductible ?
@@amithtanneru1786 yes it is if it’s used for share trading or investing
When I exit on a trade and I withdraw my profits, am I automatically taxed through the process by the ATO, or do I need to manually report my earnings?
Hey mate did you get an answer on this
daaaaaaaaaaaaaavie you in sydney bro? wheres ya tax office
Google is your friend!