I'm asking this on behalf of someone else. Just wondering if anyone here has had any experience in this area.
How should CFDs be reported to centrelink? ie if I but $2000 worth of BHP shares at 10% margin and pay $200, do centrelink add $2000 to the value of your assets when considering social security payments?
If I have a trading account of $10,000 and with that trade up to $100,000 worth of shares using CFDs, do centrelink look at this as if I have assets of $100,000 worth of shares?
Thanks for any tips