Declaring Market Value of Investments - Aussie Stock Forums

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  1. #1

    Default Declaring Market Value of Investments

    Hello All,

    I recently read an article that stated that investments identified as trading stock should be valued at their Current Mrkt value each year for Tax purposes.

    Where the result is a profit compared to the previous year, one would have to pay income tax on those profits. In comparison if a loss was identified these could be declared as losses.

    My question is:

    (i) is the above statement 100% correct and does it apply to anyone with trading investments?

    (ii) If so, then in my own situation if I hold equities for over a year, does this mean that I have to value them by declaring their current Market value each year for Tax Purposes, even though I have not sold them yet and thus not yet realised any actual gain/loss?

    Sorry but I'm a bit confused...

    Thanks in advance....
    ... A Fine is a Tax for doing something wrong. A Tax is a Fine for doing something right !!! ...

  2. #2
    Can be found on the bid Trembling Hand's Avatar
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    Jun 2007

    Default Re: Declaring Market Value of Investments

    This is a long way away from an authoritative view but you should be signed up for the simplified tax reporting? I think somewhere deep in my fuzzy brain you don't have to account for trading stock?

    Boy I'm really not sure about this but maybe a line of investigation for you.

    DYOR blah blah.
    Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? -Hunter S. Thompson

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