Bookkeeping CFDs - Aussie Stock Forums

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  1. #1

    Default Bookkeeping CFDs

    Anyone know a good bookeeper who can consolidate cfd trading statments?

    I need to do my tax and have alot of cfd trades.........the cfd provider i am with doesn't provide a consolidated financial year statement so I'm hoping someone might know of some who is a bookeeper etc that can do it


  2. #2
    Uncle Festivus's Avatar
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    Jan 2007
    Blue Mountains, NSW, AU
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    Default Re: Bookeeping CFDs

    I asked my accountant this several years ago who advised to just have - opening cash plus deposits less withdrawals & closing cash to work out a consolidated end of year profit/loss value for all trades, if you are classed as a trader by the ATO? Seems to work so far?
    Humanity is just a discretionary ponzi scheme

  3. #3

    Default Re: Bookeeping CFDs

    Should be fairly easy?

    Look at ur bank statement for how much u have deposited in to the bucket shops.
    Sum those deposits up, and put that figure into the Capital Loss column.

    Easy as pie
    I believe effort to be a finite resource. Something to be used only when there are no other options available.

  4. #4

    Default Re: Bookeeping CFDs

    I find IG Markets really easy for working out overall P/L you can download the file to EXCEL and it shows each trade and your P/L. It breaks everything down including commission, interest, divs, etc and you can even specify the dates for which you want to info.

    Then just add you own calc to work out overall P/L

    Im not sure if other CFD providers have something similar, but I assume they would?
    Blogging on my investments in the small/micro cap sector: http://investor-paul.blogspot.com/

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