# Tax return 2012 for share trader



## qldfrog (11 August 2012)

Dear all,
I am having nightmare filling e-tax this year for the first time, for the income/loss related to "share trading as a business"
(I pass the criteria hundreds of buys/sells, trading system in place, managed daily, etc)

Last year I entered the values under I24-V other incomes but I wonder if I have to enter the figures in 15 instead
Anyone facing the same issue?
What are you guys using for this income


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## auvit (15 July 2013)

qldfrog said:


> Dear all,
> I am having nightmare filling e-tax this year for the first time, for the income/loss related to "share trading as a business"
> (I pass the criteria hundreds of buys/sells, trading system in place, managed daily, etc)
> 
> ...




Hi qldfrog,
How did you end up filling it in e-tax? I am having difficulties reporting income and expenses from my share trading activity. Would you be able to advise please?


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## qldfrog (15 July 2013)

auvit said:


> Hi qldfrog,
> How did you end up filling it in e-tax? I am having difficulties reporting income and expenses from my share trading activity. Would you be able to advise please?




it will obviously not be an advice...but when I get to it [within weeks as I am in the preparation phase]  I will post what I did last year for registering gain/loss in etax and what I intent to do
I wish someone more informed could add input there.
I try to do in good faith and with whatever info I can gather but it is getting harder and harder every year which is the sign of a sick country!!!!


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## Trembling Hand (15 July 2013)

If you are trading it all goes in section 15 of the supplement section.


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## metfast (14 September 2013)

Go to an accountant


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## grah33 (27 October 2016)

somewhat of a dummy question here...

but for doing my tax return next year, so i'm better prepared , for a trader (not investor), is this enough to keep track of:

realized profits
brokerage for each transaction    (ultimately they want the profit - brokerage, that is key money to report?)

is that it? anything else needed, maybe for business deductions like broker data fees, broker software fees, other broker fees ? i don't know


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## Gringotts Bank (27 October 2016)

grah33 said:


> somewhat of a dummy question here...
> 
> but for doing my tax return next year, so i'm better prepared , for a trader (not investor), is this enough to keep track of:
> 
> ...




all that, plus home office expenses, trading-related purchases like books, seminars, hardware, internet, trip to Cayman Islands to inspect bank vaults, etc.  Easier just to go to accountant.  

Your broker should give you a summary of transactions.


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## pixel (27 October 2016)

grah33 said:


> somewhat of a dummy question here...
> 
> but for doing my tax return next year, so i'm better prepared , for a trader (not investor), is this enough to keep track of:
> 
> ...




If you get yourself classified as a Trader, you could get even more deductions, including 75% of GST in brokerage ( claimable quarterly via BAS).
I totally agree with GB: Get a good accountant to set you up and explain the lie of the land; get a good understanding, and in a year or two you can DIY.


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## grah33 (31 October 2016)

thanks for the advice  everyone. i should be okay.


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