My question is specifically in relation to my tax status as either a share trader or investor.
Could someone please advise if my share trading qualifies as either a share trader or investor?.
In the last FY, I conducted 169 share transactions: 83 buying and 86 selling. The average buying transaction involved 23,000 shares and the average cost was $4,697. The average selling transaction involved 20,000 shares and the average selling price was $4,327. All the transactions were conducted through IG broker online trading. The average time that I held shares before selling them was a week.
From March 2019 I switched my trading account to IG CFD trading account; Trade using leverage and went to short the stock. I have also been using ProRealTime - Technical analysis & trading software for technical analysis.
At the end, this trading activity culminated to loss of around $7000.