As a new share trader, I want to know if I can deduct my capital loss against my dividends. If so how to do it on the tax return form?
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Its a shame the ATO blog page at https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/shares-and-similar-investments/share-investing-versus-share-trading does not include any example/s of share traders, only investors. Or did I miss something ?
If you also have a day job, you're unlikely be be a share trader.
If you're unsure, you can share all the facts with ATO and apply for a PBR.
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Are you a share trader or investor? Link below distinguishes between the two.
If you hold shares the ATO will regard you as an investor unless you can show you are in the business of trading. As a trader you don't have capital losses unless you have a parcel of shares outside of your trading that are used for investment purposes. Capital losses can only be claimed off capital gains. If you have no gains then the losses are carried forward to use in future years off any gains. You can't claim capital losses off normal income (such as dividends).
Thanks for your very helpful info.
Its a shame the ATO blog page at https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/shares-and-similar-investments/share-investing-versus-share-trading does not include any example/s of share traders, only investors. Or did I miss something ?
If you also have a day job, you're unlikely be be a share trader.
If you're unsure, you can share all the facts with ATO and apply for a PBR.
Thanks very much for your help.
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