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ExpatSingapore Message Board 23 August 2017, 19:53:05 PM *
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Author Topic: income tax on futures/options trading  (Read 5808 times)
Soros wannabe...
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« on: 08 June 2008, 23:48:20 PM »
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anyone knows if profits from futures/options trading by an individual are taxable here?  can't find anything on IRAS website

thanks vm!
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hmm, tricky
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« Reply #1 on: 09 June 2008, 1:45:37 AM »
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I am not an expert but I believe the rules are roughly as follows:

Gains on investing or personal account trading activities are not taxable.

Gains where these activities form your main source of income (i.e. you are making a living as a freelance trader rather than doing a bit on the side) are taxable as income.

This may obviously have fuzzy boundaries.
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dividends only
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« Reply #2 on: 09 June 2008, 14:09:01 PM »
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Only dividends are taxable here (at your personal marginal tax rate I believe).  Capital gains (as from futures, options, commodities, stocks...) are not taxable.

As for taxes on dividends, this applies only to dividend-income derived locally.  For instance, if you receive a dividend on a stock you own in the US, you pay no Singapore taxes (but you would pay US taxes, except for ADRs...)

From what I've been able to find out, a good tax-avoidance strategy is to buy ADRs in the US.  You can even buy Singaporean companies there (like Keppel).
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soros wannabe...
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« Reply #3 on: 09 June 2008, 21:25:01 PM »
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thanks both!

my trading is definitely not my main source of income... not that gutsy (or foolish) to chuck in my day job. I knew divs are taxed while capital gains are not, but had no idea where futures/options fall in this type of (somewhat) artifical division
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Ramirez
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« Reply #4 on: 12 August 2017, 15:04:23 PM »
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I am not an expert but I believe the rules are roughly as follows:

Gains on investing or personal account trading activities are not taxable.

is this still true?
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