Results 1 to 6 of 6
  1. #1
    Rookie Member

    Looking for other Australian Traders for answer to taxation questions !!!

    Hi I am an Australian and I am interested in finding out some answers to Binary Trading Taxation for Australian residents.
    1. Is binary option profit taxable?
    2. If so...are losses deductable?

    Any help in this area would be much appreciated.

    Thanks in advance.

  2. #2
    Active Member
    I'm not Australian, but I'm sure the profits are taxable. Most chances that losses made on same tax time period as the profits are deductible.

  3. #3
    Active Member aquaeyed's Avatar
    at Israel a broker sends to Tax Authority each half year your profits. and actually you can't withdraw all your money but after minus tax, that 25% here. If other half year you just losses broker give you document for your looses and you must sent it to Tax Authority and they must return money from previous wins.
    It what says every Israelis brokers FAQ, I think that Australian brokers answers for it in FAQ too. just check it.

  4. #4
    Active Member pipshunter's Avatar
    Quote Originally Posted by aquaeyed View Post
    at Israel a broker sends to Tax Authority each half year your profits. and actually you can't withdraw all your money but after minus tax, that 25% here. If other half year you just losses broker give you document for your looses and you must sent it to Tax Authority and they must return money from previous wins.
    It what says every Israelis brokers FAQ, I think that Australian brokers answers for it in FAQ too. just check it.
    I think it is probably the same in Australia, in Europe it is taxed next year after the end of the calendar year, only if the profit for the year is bigger than the loss. I am not sure but some countries like Great Britain have different lows and it could be tax free there.

  5. #5
    Senior Member raymond09's Avatar
    I also think profits are taxable. Because that is you’re earning. If you still confused contact with your administration. I can suggest you that do not get scammed by people and any other just go to the local administrator and verify is profits are taxable in AU or not.

  6. #6
    Rookie Member
    In my opinion, Binary option is the best option for trade taxation. It is also profitable option.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
3