TIP: Click on subject to list as thread! ANSI
echo: aust_biz
to: Paul Edwards
from: Lindsay McKeon
date: 1995-10-18 08:15:12
subject: questions!

PE> 4. Can I choose whether I want to be considered a "share trader"
 PE> myself, and on a per-share basis?  E.g. if I have both mining
 PE> stocks for heavy trading, and blue-chips for long term investment,
 PE> can I write losses on the former against my income, whilst get
 PE> the blue-chips treated as normal capital gain?

I believe you can choose to designate yourself as a share trader, 
just by notifying the ATO.
 
I heard years ago that if you wish to have some "investment" stocks
that you should buy and sell through a separate investment account, and
notify the ATO that specific stocks have been bought for investment, not
trading purposes (although notifying them of the account may be enough).
 
I am not an accountant and this information should be verified by
someone qualified, or the ATO itself.
 
LM.

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