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Tradings shares using LOC

Discussion in 'Shares' started by Triu, 4th Dec, 2006.

  1. Triu

    Triu Well-Known Member

    Joined:
    1st Sep, 2006
    Posts:
    161
    Location:
    WA
    Can anyone tell me if i use some of my money from my investment LOC for trading shares or paying for a share trading course. Can i still claim the interest as a tax deduction against my LOC.

    Thanks

    Triu
     
  2. Glebe

    Glebe Well-Known Member

    Joined:
    15th Aug, 2005
    Posts:
    932
    Location:
    Sydney, NSW
    Sure can, but I'm no accountant.
     
  3. Simon

    Simon Well-Known Member

    Joined:
    17th Sep, 2005
    Posts:
    520
    Location:
    Newcastle
    I think educational expenses must be related to your income source. So a share course is alone not deductible unless you actually receive taxable income as a result of that activity.

    So if I did a dog grooming course then it will be deductible if I am earning an income from that activity ...