I am a bit confused as to whether trading financial instruments on a spread betting account is classed as taxable income and whether it should be reported on a tax return? I opened the account years ago when I was living in the UK, but now I live in Australia I am confused on what to do. Thank you
Probably count as income. source: https://www.ato.gov.au/law/view/print?DocID=AID%2FAID201056%2F00001&PiT=99991231235958
If unsure, I think you can apply for a private ruling for ATO to confirm it for you.
Probably count as income. source: https://www.ato.gov.au/law/view/print?DocID=AID%2FAID201056%2F00001&PiT=99991231235958
If unsure, I think you can apply for a private ruling for ATO to confirm it for you.
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