QUOTE(Yggdrasil @ Aug 10 2020, 01:15 AM)
I'm also curious.
My dad, a retiree, goes big on stocks and made few hundred thousands profits during the oil palm price spike last year (around RM270k) and this year's flash crash in March (made another RM300k).
His average holding period is around 4 months. Not too short like buy sell everyday but still short as it's <1 year. So far no IRB come knocking.
This can consider an investment already, that time i kena fined by lhdn, I asked a lot of questions. The income only taxable when you're solely rely on this income for daily necessity and also when you're involving in high frequency trading per day, let say I'm trading 10 to 20 transaction per day.My dad, a retiree, goes big on stocks and made few hundred thousands profits during the oil palm price spike last year (around RM270k) and this year's flash crash in March (made another RM300k).
His average holding period is around 4 months. Not too short like buy sell everyday but still short as it's <1 year. So far no IRB come knocking.
For losses made, u deduct and report to lhdn yourself, we will file it once a year, the taxable income is only on the gain of your trade after deduct any losses