Investing vs Trading

[tyler_d]

I started buying shares in August. I would buy maybe some shares daily and sell shares maybe every 2 or 3 days. More gotta to do with inexperience and trying to predict the market. By November I was not selling as much but I do find myself topping up on shares I like daily. My accountant told me I just need to be careful that my actions aren't considered trading as that would fall under income tax. Is a certain way to distinguish? I think I sold maybe 5 or 6 shares last month so was surprised that this could be considered trading. Yes I buy more frequently but that's more to dollar cost average.

Thanks in advance,

Aaron

 

[Silversurfers]

Doubt Revenue will be too bothered unless you're dealing with large amounts.

 

[jokerini]

Your accountant must be incredibly conservative if he thinks Revenue would regard your activities as trading and therefore subject to income tax, particularly if you already have a full-time job.

 

[Jim2007]

Your accountant must be incredibly conservative if he thinks Revenue would regard your activities as trading and therefore subject to income tax, particularly if you already have a full-time job.

The advice was correct and just because you have a full-time job does not mean you can't be considered to have income from trading as well.