I wonder what TAX options for DayTrading is in your home country. And if you dont mid, You can tell us what is your taxation plan.
My current monthly taxation on every trade that I do whether it's forex, futures or equities trading is like that:
10% for the first 1,150$
15% for the next 890$
23% for the next 1,000$
30% for the next 1,350$
34% for the next 5,000$
46% for everything above.
Add to this a 16% social security.
Crazy ha?
In addition to that, Almost everything is considered as a recognized expenditure. Any banks&Brokers commissions, Internet, Phone calls, Computers, Electricity, Property tax, Charting softwares, etc...
The other option is to form an entity, Then the company pays 25% for everything.
Thats it for Israel. Really sad numbers. Notice that all this apply only to DayTraders, But if you're an investor you just pay 20% and thats it.
Theres also the question if you/your conutry look at your trading as a business or not, If not, Usually you pay CapitalGains which is in most cases that I know is better than income that considered as income from business but of course you can't demand recognize expenditures, or do you?
I also know that in some places theres some legitimate ways of paying 0% tax on trading. Please share the tax rules in your country and/or your tax planning.
My current monthly taxation on every trade that I do whether it's forex, futures or equities trading is like that:
10% for the first 1,150$
15% for the next 890$
23% for the next 1,000$
30% for the next 1,350$
34% for the next 5,000$
46% for everything above.
Add to this a 16% social security.
Crazy ha?
In addition to that, Almost everything is considered as a recognized expenditure. Any banks&Brokers commissions, Internet, Phone calls, Computers, Electricity, Property tax, Charting softwares, etc...
The other option is to form an entity, Then the company pays 25% for everything.
Thats it for Israel. Really sad numbers. Notice that all this apply only to DayTraders, But if you're an investor you just pay 20% and thats it.
Theres also the question if you/your conutry look at your trading as a business or not, If not, Usually you pay CapitalGains which is in most cases that I know is better than income that considered as income from business but of course you can't demand recognize expenditures, or do you?
I also know that in some places theres some legitimate ways of paying 0% tax on trading. Please share the tax rules in your country and/or your tax planning.