Taxes Down Under - on trading US Index Futs. contracts from down under

Discussion in 'Taxes and Accounting' started by traderwald, Jun 12, 2020.

  1. Hi guys,

    If one trades from down under, when are the taxes on trading US Index Futs. contracts to be paid ? Is it quarterly or annual ?

    Also, there are 2 classifications trader and investor. To be a trader - one has to trade frequently, have a plan etc. To be investor - one has to invest and not trade frequently etc.

    But what if one trades frequently o futs. contracts, but in a casual manner - i.e. not much of a plan or anything. What are taxes involved for such if we have a small profit and how frequently to pay the tax for this ?

    Please let me know.

    Thank you
     
  2. Overnight

    Overnight

    Are you a US citizen living down-under, or just a straight-up Donk?

    If the former, you need some pro US accountant advice. If the latter...Pppfhh, you just go the outback to hide in. :)
     
    zdreg and Fonz like this.