Business Services Industry
Share trading and tax losses.(Brief Article)
Australasian Business Intelligence, March, 2005 by Greco, Tony
Mar 04, 2005 (Personal Investor - ABIX via COMTEX)
It is often difficult to determine whether a person is a share trader or passive investor. To claim a tax deduction on money borrowed to finance share purchases, investors must prove to the Australian Taxation Office (ATO) that they carry on a business of share trading. Such factors as the number of transactions, the scale of activities and trading pattern are taken into account to decide to what group a particular investor belongs. Investors who are in doubt should ask the ATO for a private ruling.
Publication Date: March 2005
By Tony Greco
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