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warusham(Newbie)Newbie
18 Oct 2021

I have a full time job and day trade US equities & Options. What do I include under income section? the net profit or sales proceeds. For example, If I buy 10 x AMD shares at $100 and sold it for $110, what should I record under income section? - $1,100 or $100 profit For the assessable income test, which figure should I use? Total Sales proceeds ($1,100 as per the above example) ? Thank you for the clarification

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MarkATO(Community Support)Community Support
20 Oct 2021

Hi @warusham If you're a trader and not an investor then you should be reporting your gross profit. So it would be the $100 per the example. The links below have some more information that you might find handy https://business.gov.au/Finance/Taxation/Income-tax-for-business https://www.ato.gov.au/Individuals/Capital-gains-tax/Shares-and-similar-investments/Share-investing-versus-share-trading/

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