“I own my home outright and I am receiving $812.58 per fortnight, while living with my 59-year-old non-pensioner partner who is not working. I have been turning a good profit on short-term trading lately. My question is how do I best deal with these profits?
I would love to be able to consistently trade at a greater rate than the pension and not receive the pension but what happens if the trading turns to losses? Should I start a MYOB account for this purpose and treat it as a business and present it at tax time? Or should "profits" and losses be reported fortnightly?"
-Question from Peter in Hyland Park, NSW
Read the response from Kris Wrenn of Hudson Financial Planning in Milton, QLD
Read the response from Dishna Wijenayake of Brillo Wealth Management in Hawthorn, VIC
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