Binary Options - ATO Tax Treatment

[freddy80]

Hi,

New to Aussie stock forums, glad to be here and hoping to learn a lot from what seems to be a very passionate financial community.

I was hoping someone amongst this community has had experience with binary options and could explain the tax treatment of profits made from binary options trading??

I have scoured the internet and ATO website and the only information I could find is the tax treatment for standard options and the definitions on when share trading becomes a business, but the information was directed at equities specifically.

I am just looking into binary options at the moment and have not engaged any brokers or the like. Just trying to research the hell out of it before having a go. Any help with this topic would be greatly appreciated.

Cheers

 

[So_Cynical]

Its not gambling and is taxable...i looked, the ATO thinks that all on traditional gambling isn't gambling.

 

[freddy80]

Its not gambling and is taxable...i looked, the ATO thinks that all on traditional gambling isn't gambling.

Is it just treated as income though??

 

[So_Cynical]

Is it just treated as income though??

Yes it is...its not treated as winnings from gambling (tax free)