okay i have just started day trading and just wondering how much money can i make before i have too pay for tax and I don't work a job.. I'm just day trading
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Hey @Tim11,
It sounds like you've determined yourself a trader. If you're a trader, then the stocks you trade are considered trading stock in a business. If you're running a business then you'll need an ABN, and you'll need to report any income you earn to us. You can earn up to $18,200 before you'll need to start paying tax.
Check out the response we've provided to a similar question on our forum.
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Hey @Tim11,
It sounds like you've determined yourself a trader. If you're a trader, then the stocks you trade are considered trading stock in a business. If you're running a business then you'll need an ABN, and you'll need to report any income you earn to us. You can earn up to $18,200 before you'll need to start paying tax.
Check out the response we've provided to a similar question on our forum.
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