All, I was wondering if anyone has any recommendations regarding the best 'vehicle' for running a frequent or day trader account that is tax efficient. More specifically the scenario is: I have a large cash sum eg. $500K and want to 'day-trade'. I have experince trading (20 years) but I want to set up a 'vehicle' that will allow me to trade frequently and will reduce my capital gains, ie. hold equity for days or weeks and less that the 1 year 50% tax timeframe. SMSF may be best but I don't trust the Government with my Super in the future. Do I set up a trust or a company ? I am very good at keeping records of my trades but specifically want to reduce my tax. If I do this as I am now ('high income earner') then my gains will be taxed at 45% or so. Any ideas ? GunnerGuy.