Mr Taxman
Change the way you feel about taxes.
Get informed and discover what the taxman doesn't want you to know.
Sharing it with Australia, Mr Taxman is a regular Woman’s Day columist and TV finance commentator
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I have recently given up working so Trading is my only form of income. Is it possible to offset trading losses over the past 8 years to any future profits before paying tax? Also would it be advisable to set up a Hybrid Trust to distribute funds to beneficiaries?

Claiming share losses

Dec 05, 2011

I am retired and lost $10,000 in trading last year. Can I claim this as a tax deduction?
I am an Australian but trade US futures, do I need to pay tax in the States and Australia, or neither?
The $1 million spent on this week’s Tax Forum would have been better put to rewarding those who dob in a tax cheat according to Mr Taxman.
According to the latest ATO Progress Report 10 there have been 4.37 million lucky taxpayers since 1 July 2011 who have received refunds totalling $10.24 billion. That is an average tax refund of $2,367!! For those that have been fortunate enough to receive it, Mr Taxman gives us ten smart places to use your refund.
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