- Joined
- 18 March 2013
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some key points I have found;
1) worldwide income
2) when profits are realised ( this is a strange one for people who trade every day, and trade a lot. )
3) losses are held for future profits, not the other way around
to me;
sounds like they don't want us to compound our winnings while its in the account, we have to pay tax on the
amount in the account, not when we get it out, hence "realised."
sounds like they really just want us to create an offshore company and then trade offshore, then bring it back
that's so that we don't pay tax on the compounded earnings, I think they are telling us something interesting.
In other words, if we have to pay on "realised" profits, and they determine it's when the trade is over, not when we pull it out of the account, then there's the tricky bit. It increases our tax rate by a lot more than just a few percent.
why would they hinder traders to actually make money in their account ??? just because it's cash ? and somewhat liquid ? I really think of that money as working capital, and when I am trading it in an account, I shouldn't have to pull it out to pay taxes, until I pull it out to realise my own profit. So that's a bit strange to me.
Again, I need a tax lawyer for this one.
1) worldwide income
2) when profits are realised ( this is a strange one for people who trade every day, and trade a lot. )
3) losses are held for future profits, not the other way around
to me;
sounds like they don't want us to compound our winnings while its in the account, we have to pay tax on the
amount in the account, not when we get it out, hence "realised."
sounds like they really just want us to create an offshore company and then trade offshore, then bring it back
that's so that we don't pay tax on the compounded earnings, I think they are telling us something interesting.
In other words, if we have to pay on "realised" profits, and they determine it's when the trade is over, not when we pull it out of the account, then there's the tricky bit. It increases our tax rate by a lot more than just a few percent.
why would they hinder traders to actually make money in their account ??? just because it's cash ? and somewhat liquid ? I really think of that money as working capital, and when I am trading it in an account, I shouldn't have to pull it out to pay taxes, until I pull it out to realise my own profit. So that's a bit strange to me.
Again, I need a tax lawyer for this one.
