Tax deduction of CFD losses

petehe said:

I have been trading with CFD for 2 months and lost 4k last financial year.
I have full time job and so I am not a trader.
Could anyone tell me if I can claim the CFD loss as deduction to offset my taxable income?
If I can which category should I claim it under

Much appreciated.

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McLovin said:

Nup.

You made a capital loss so can only use that loss to offset capital gains. Unless you are a professional trader your capital gains and losses are not considered ordinary income that can offset other ordinary income like salary.

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