For Simon Pateman Brown

[Preston]

Good morning SImon. I could have approach you at you desk to discuss this problem but i am just too busy on this forum. Q. If you buy a SSF on the 28th of February (last day of tax year) and you have made a loss on that SSF for that day only. Will that loss be reflected on your tax statement or it will only be relected upon completion of the SSF.

[Preston]

Mr C. John and all other. DO you guys know the answer to this Q.

[Werner_1]

Preston, i might be wrong, but i understand that SSF's profit/loss are daily, so i believe it will be added to that years loss and not when the contract is sold.

[#4]

as Zarp says you only make a loss when you sell...which is why he just let his warrants decay worthless...I am not a tax expert but I would say that the profit or the loss is only realized when the instrument is traded....

[Preston]

2 different view. If it is reported on the tax statement on the last day ,then it could be a way of evading your tax liability on profit made. Rolling over tax liability, provided the day after tax year end, you can regain the amount of money that was lost on the previous day. However a scheme like this ,need the expertise and experience of Chartist. At least we can screw the taxman.

[#6]

Hi, Kurt here.
SSF's settle profits and losses daily. Thus as at the 29th Feb 2008 you have received all your profit up to that point and as such are liable for tax on the profit realised.
Unlike shares you do not postpone the tax event to the date of sale of the SSF.
Regards

[Werner_1]

Thanks Kurt

[Preston]

Mr C, there is one way of evading your tax liability by rolling forward. We need your expertise Mr C. I am not prepared to pay MadBOB 40% of all profit made.

[#9]

trade in your grannies name....I am sure she has less of a tax liability than you do....

[Preston]

I have also taught about a person not registered for tax and opening an account under her name and do the trading. The problem with that is when MADBOB ask my granny who gave you the initial capital..and if me granny say Preston, then MADBOB will clap me with Donation tax. I still feel SSF is rather a legal way to screw madbob only if you are good in your selection and trading the market.

[Preston]

taught = thought

[#12]

you need to train your granny to be old and senile...

[Preston]

lol , when granpa died she become normal again. Seriously , what is your opinion on the above scheme?