Is CFD income a base rate entity passive income

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(Newbie)Newbie

21 Aug 2024

Hi, I am preparing a Company Tax Return. The only activity this company does is trading in CFDs. My question is - is the company considered a base rate entity or not? (It is under the turnover threshhold).

According to the ATO definition, Base rate entity passive income includes 'gains on qualifying securities'. But I can't find any information on what these qualifying securities are and whether these include CFD profits.

I called ATO for advice, but was told they can't help with this and they can't provide more details on what they mean by qualifying securities.

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