Disliked{quote} I agree with Brixen. No tax on trading here. If you make profit on trading and charge you with tax, they also have to deduct taxes when you make losses. And since 85% of the traders lose money they don't want to burn their fingers on it. To many different countries with to many different tax rulesIgnored
In NZ futures trading losses are deductible and can be offset against other income earned (eg salary or interest received). If you have no other income to offset the losses against I can carry forward the losses to a future tax year - as long as I can demonstrate the futures trading activities have a reasonable chance of making a taxable profit at some point. This treatment is no different to a startup business that may produce losses for the first few years and then become profitable and as such the tax authorities allow the losses to be carried forward to the future years.
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