Is Forex Trading Taxable In Australia?
Forex trading has become increasingly popular with many enthusiastic traders hoping to cash out on returns after spending considerable time getting to know the strategies and tricks of the trade. Unlike gambling which largely relies on chance and luck, Forex trading is based on skill and strategies that can help you put the odds in your favour.
Forex is a portmanteau word comprising the two terms “foreign” and “exchange.” The premise rests upon the idea that a currency’s value at any given time does not necessarily reflect its true value. Forex trading involves buying and selling of different currencies, based on their exchange rates.
In Australia, Forex is a legal activity that is also a taxable one. It is regulated by the Australian Securities and Investment Commission (ASIC), th...