Can you claim ‘professional trader’ deductions?

Those who claim share trading as their profession rather than just being an investor must convince the Australian Taxation Office before they can claim trading losses as tax deductions. The ATO warns there are strict criteria to be met for someone to be classed as a share trader following confusion amongst investors who have incurred losses and then tried to offset these against their other income. Read our Guide Article for more information: ATO tough on ‘professional trader' definition

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