NSW Share Trading as a Sole Trader?

[asbindia]

Hi,

I was looking at getting into share-trading and was wondering if it is possible to do it as a Sole Trader (business using an ABN).

Thanks in advance!

 

[Rod]

Yes

 

[Tim W]

As long as it's you, your money, and on your own account, then yes.

If you do it on behalf of somebody else, or, if you provide advice to others (however informally)
then you will need a licence.

Get formal advice from a solicitor and accountant about how to treat trading gains and losses
in terms of 8-1 (income) and CGT.
And no, you don't get to hide your trading proceeds from the ATO by operating cyber-overseas.

Lastly, beware of software packages that are not Australian-authored.
Stuff that's written to comply with, say, the law in the US
may not be the best choice for an Australia domiciled trader.

 

[NinjaFlyer]

As long as it's you, your money, and on your own account, then yes.

If you do it on behalf of somebody else, or, if you provide advice to others (however informally)
then you will need a licence.

Get formal advice from a solicitor and accountant about how to treat trading gains and losses
in terms of 8-1 (income) and CGT.
And no, you don't get to hide your trading proceeds from the ATO by operating cyber-overseas.

Lastly, beware of software packages that are not Australian-authored.
Stuff that's written to comply with, say, the law in the US
may not be the best choice for an Australia domiciled trader.

"If you do it on behalf of somebody else, or, if you provide advice to others (however informally) then you will need a licence." - not necessarily. There are many exemptions in the regulations. An SMSF trustee for example does not need a license. Neither does an employee providing investment advice to their employer as an investment analyst or investment fund manager.