Originally Posted by
RazorX
A similar situation to the above. I have a small loss from Forex trading, plus a few expenses related to setting up, 2nd hand computer, membership fess etc... for the 2010. Has anyone returned a forex loss before, and what is the likely IRD reaction?
Also I have been studying taxation as part of my diploma, and have come across the very grey area of share trading in relation to assessable income. Does anyone have any experience or know just what level of activity the IRD goes from it being 'not business' to being 'business'. Obviously buying and selling one or two shares a year won't interest them, but what about 10, or 20? Bearing in mind that I am talking from the viewpoint of a person who works full-time and does a bit of share-trading in their spare time. I know that if a persons full-time activity is share-trading then it is a business - it is when a persons full time income activity is something else (Say a Job) that things get tricky.
Cheers
Razor
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