How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Robin D. Your Own Question
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15301
Experience:  15years with H & R Block. Divisional leader, Instructor
14155347
Type Your Tax Question Here...
Robin D. is online now
A new question is answered every 9 seconds

I had about $15,000 in losses trading Foregin Exchange over

Customer Question

Hi, I had about $15,000 in losses trading Foregin Exchange over the last financial year, am I am to able to include those losses on my tax return in Australia ?
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 12 months ago.

Hello

If a forex gain or loss is brought to account under the forex measures and under another provision of the tax law, it is generally assessable or deductible only under the forex measures.

https://www.ato.gov.au/Forms/Trust-tax-return-instructions-2013/?page=4