Hi Everyone
I need some help regarding my CFD forex for my 2022 personal return.
This year I have started using MetaTrader 4 to do some CFD trading, mostly forex. This is not a business, but my new hobby to earn some extra cash. Profit and loss are generated each time I close the trade in my account. So at the end of FY22, there must be either net profit or loss resulting from those CFD tradings during the year.
My question is: on 30/6/2022, if I have a net profit, where shall I record it in my tax return? Is that in I24 Other Income? If so, which category? Or it must be recorded somewhere else?
And what if I have a net loss? Can I use that loss as a deduction to my other assessable income? It shall be recorded in D15 Other Deduction, right?
I'm a little confused here, wish someone can offer some help.
Many thanks
Bill
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