Quote Originally Posted by Snoopy View Post
As a precaution you should keep a dated and detailed 'investment diary' where you clearly state on what day you intend to start your long term investment plan and what your long term investment objectives are. 'Trading' to achieve these objectives is generally not a taxable activity. The bits in your post I have emboldened are the important statements that mean you are not a trader for income tax purposes. The tax treatment of any share 'trade' depends on the intent you had when you bought it.

SNOOPY



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Thank you SNOOPY. I think having such a diary is a good idea. However, shall I report my gain to IRD along with the diary in the tax return? Will IRD accept such a diary to recognize my intention? What is the optimal practice in dealing with IRD? Cheers.