Originally Posted by
Cyclical
Yeah, we might be off topic here, but it's quite relevant to what one or two of us are up to with this stock...
Not necessarily. It would be prudent to use caution so as not to appear as blatant tax avoidance, however, at this point in time you may consider yourself as a trader (and let's face it, most of us have probably been doing a fair bit of trading this FY given the market turmoil, for whatever personal reasons) and you're up significantly while you've been swapping in and out of shares deciding where to put your funds long term... As things settle down, you dial back on the trading, realise some losses here and there that negate the previously realised gains. And then you might think, right, ATM looks like a good long term prospect and you think they'll be paying a dividend in the coming years, I'll buy a shed load at about the same price I sold them for the other day, but sit on them for the years ahead and quit "trading" at that point. Does that mean you pay tax on capital gains in the years ahead?
I'll run with that until I learn otherwise.
Once a trader, never an investor? So because the kid traded a few shares with his paper round money back in '87, he's tainted forever as a trader and will be treated as such for tax purposes for the remainder of his life? Seems rough.
ATM's looking good to short ;-)