Hi I am currently trying to do my tax return. I trade CFD's and have a question i will be taxed on the profits made, and i will get a deduction on the interest paid. However, how would i go about deducting the fees paid for each CFD trade? This should be a section 11(a) deduction just dont know how to go about deducting this on my e filling. Assistance will be appreciated.
Hi On e-filing form select yes on "Local Business, Trade and Professional Income". there you can include all income and expenses related to your trading. do not forget to include depreciation for assets used for trading. Source code of Stockbroker must be used. 2514 in case of profits or 2515 for loss hope that helps.