TAXES

[yadav]

hi Guys, Please could you tell me, while filing taxes; which sections must be filled using the derivates profit /loss report provided. Thanks in advance

[Preston]

ommitted it else Malema will reaps the rewards of your hard work lol

[yadav]

I want to know because I had incurred loss :( in that statement Derivatives profit/loss . So want to file that loss. I started trading in derivates this year and have no experience is using that report to file the tax. so, need help under which section we file it and how we use this derivatives report statement provided to us on the OST account. Any information would really appreciated. Thanks

[CHATTYCHAT]

My guess is - you being a trader - that you select the applicable section from the available buttons to indicate that you derive income from a business.

[yadav]

Thanks. I only do trading part time and have received IRP5 as well from my employer. For my share profit/loss report.. I put them against capital gains/loss. but couldn't find a proper section to use for the derivates profit/loss

[yadav]

Thanks. I only do trading part time and have received IRP5 as well from my employer. For my share profit/loss report.. I put them against capital gains/loss. but couldn't find a proper section to use for the derivates profit/loss

[prancing_horse]

To the best of my knowledge you cannot offset your trading loss (or loss from any other business)against the main source of your income, it will be carried forward until such time you make a profit from trading, then you will be able to claim all or portion of it depending on the size of your trading profit.If you make a profit in year one this will be added to your income and tax accordingly. Remember whatever you do, the scale always tilts in favour of SARS.