Posted by Ayoyo > 2019-03-17 04:21 | Report Abuse

While there are no capital gains tax here, has anyone declared trading profits as income or challenged IRB definition on 'badges of trade' which may make trading profits as taxable income? The clearest contrast is between kyy and Phillip... Phillip holds his investment for the very long term hence is considered capital gains by nature while uncle koon clearly trades with a motive to profit.. Does kyy declares his stock trading profits as income? What is the position of other profitable traders here? If one is Trading as an individual, and being profitable for many years, with taxable income at the highest % if trading profits are declared, how should one approach this subject without stirring up the hornet's nest with IRB?

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3 comment(s). Last comment by JayC 2019-03-17 20:26

Junichiro

2,063 posts

Posted by Junichiro > 2019-03-17 19:38 | Report Abuse

The line between investing n speculating is hard to draw. Does investing means u are not allowed to sell when u received fresh update that is detrimental to the stock u hold ? In the history of M'sia, no individual has been taxed on trading profits.

Iamyou

60 posts

Posted by Iamyou > 2019-03-17 20:24 | Report Abuse

As far as I know, there will be no tax if your main source of income is not coming from stock trading.

JayC

1,302 posts

Posted by JayC > 2019-03-17 20:26 | Report Abuse

government already earn from stamp duty and 6% service tax. which i consider to be sufficient

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