G'day I'm a Aussie trader trading the Dax, is there any other Aussie traders out there who have any advice on that nasty word called TAX!!!!!!!!
rebilly7..are u in OZ now?do u " scalp" or " postion trade"?Its not rocket science draw up a " profit and loss account" to see if it is viable
dunno about how australia tax works, but in the US, you can trade your retirement accounts (IRAs, eg) and defer tax for decades. And you avoid all the reporting that goes with it.
I am trading STIR futures and am based in Dublin. Not sure about Aussie, but here in Ireland it is not easy to avoid tax because they view the activity as Irish if the actual execution occurs in Ireland. This is despite the fact that I trade via a VPN and the closest server is with Fortis in the UK. I am in the process of setting up a new account via an offshore trust which would have other business interest, of which the trading of futures in Ireland would be a minor part. This is the closest I will get to being able to remit profits without incurring tax. I do know that in Australia the tax authorities are empowered to look through trusts to see who the eventual beneficiaries are, and so this may not work for you.