Forum Archive Index - July 2000

[Brian Gale <brigale@i4free.co.nz>]

If you wish to claim losses and expenses on your sharemarket activities, as 
far as IRD are concerned you are operating a business (a business in buying 
and selling shares) therefore you need to produce a full set of accounts 
either as a Sole Trader, Partnership or  Limited Liability Company, to be 
forwarded with your end of year Tax Return
  This the way Ritchie  operates and why he talks about claiming various 
expenses. But as has been said if you don't have accountancy experience - 
get an accountant to advise you on the ramifications.
BG
At 10:54 02-07-00 +1200, you wrote:
>Hi all,
>
>I've been dabbling in shares for a number of years but without any great
>success. My decisions were not based on any deep research as such but
>since late last year I have put more time into studying the sharemarket
>with a view to making some money quickly by trading shares.
>
>As luck would have it, the market retreated and I bought a few shares in
>Jan/Feb for a short-term gain but still held them on 31 March. Their
>values on 31 March were less than what I paid for them (Yes, Ritchie,
>I've noted your tip about selling them and claiming the loss - I'll do
>that next year). I also hold other shares which are for long-term
>capital gain.
>
>Can anyone help me with the following;
>
>1. As I have not done any trading, can I still claim expenses eg
>newspapers, interest, subscriptions etc.?
>
>2. Can I claim the brokerage on the trading share buys as an expense?
>
>3. Do I have to claim depreciation on my computer and if yes, do I need
>some kind of formal valuation?
>
>4. Can anyone tell me about MAUS Stockmarket Plus software (price, easy
>to use etc?) or recommend any other software which is good for
>beginners.
>
>Cheers.
>
>Roger
>
>
>
>
>
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