I have been trading CFD's for some time. I trade short term, days to weeks, so CGT does not apply as all transactions are closed out less than 12 months. Last year I incurred a trading loss. Can this be offset against my other income? (ie interest,dividends,payg income) Thanks
Hi @weggz64,
You can use trading losses to offset other income. The shares are treated like ordinary income.
If you're not trading as a business you'd claim the loss at D15 Other deductions.
If you're a business then you'd need to see if you can offset the loss against other income by considering non-commercial losses.
Hi @weggz64,
You can use trading losses to offset other income. The shares are treated like ordinary income.
If you're not trading as a business you'd claim the loss at D15 Other deductions.
If you're a business then you'd need to see if you can offset the loss against other income by considering non-commercial losses.
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