Ziggy, I'm a bit loath to comment, but there seems to be a couple of people promoting dubious tax minimisation and/or avoidance propositions, and I think it healthy to get some word of caution to not jump to conclusions, so I would suggest you read the link http://www.aussiestockforums.com/for...899#post210899 in full provided on the "CFD is not tax assessable" thread.
Originally Posted by jiggy
On face value I would suggest you are inviting a tax avoidance prosecution plus penalty plus GIC.
If you don't have a good accountant, you can go to the ATO web site http://www.ato.gov.au/businesses/pat...78#001_003_082 and apply for a private ruling. It will cost you nothing and provided you describe your circumstances correctly, the ruling will be binding on the tax office.
While on the ATO site have a read of related tax rulings and the following links.
Aggressive Tax Planning
Don't take the bait - dodgy schemes can come back to bite you.
Find out more about the joint international tax shelter information centre
Then come back and tell us how you got on.