Hello,
I have just set up a family trust fund that does not have an ABN. I am planning on using this trust fund to buy and sell assets like stocks, mostly as an investor rather than a day trader. I was wondering if it is possible to create stock trading accounts (like commsec/selfwealth) and trade stocks to earn money without having an ABN? I have a TFN for the trust fund already.
Thank you.
Hi @Catkitkat
It really comes down to whether you are a share investor or share trader.
Either way, you don't necessarily need an ABN, but a share trader can be considered a business for tax purposes so there would be benefits to having an ABN.
:)
Hi @Catkitkat
It really comes down to whether you are a share investor or share trader.
Either way, you don't necessarily need an ABN, but a share trader can be considered a business for tax purposes so there would be benefits to having an ABN.
:)
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