Tax implications when trading

I am still paper trading and feeling OK about it all, plan was to go live in the next 12 months with 2 portfolios, a medium term trading one and a longer term dividend reinvestment portfolio.

After seeking advise from my accountant last week it seems I am better to change my plans for the next few years as I have some big CGT issues coming up due to impending asset sales.

Guess I am a bit throw that my active trading will be put on hold for a short period but I am keen to get stuck into the longer term stuff asap.

Anyway this is just to suggest that other beginners consider getting advice for their own situations before putting too much money out there.

Your only going to pay tax if your system is effective. If you have a system that you believe is effective I wouldn't hold back solely because of potential tax payable..

VSntchr said:

Your only going to pay tax if your system is effective. If you have a system that you believe is effective I wouldn't hold back solely because of potential tax payable..

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I understand that, my post is more to suggest that others seek advice before going live. In my situation I am better to direct the funds to longer term shares and not create any more income in the years that I will be dealing with already big CGT payouts. My understanding is that CGT is a sliding scale so the more I earn (from any source) the more CGT I will then be paying on property sales.