aliassmith wrote: LeMercenaire wrote:
So you made about 120 ticks on the dow mini?
I honestly don't know. I'm using a UK Spread-Betting platform to place the trades and they work in points/cash total.
You guys don't have to pay taxes on that spread betting income?[/quot
Well...yeah...but it's not really so simple. Technically if it is your sole income, then they could levy tax, however, as it is classed as betting, then just like with horse racing, they figure that over the course of things, we will all end up worse off.
Because of that, they figure that what they lose out on by not chasing the winners, they make up for by not having to deal with claims from the losers who would end up with rebates claimed on losses as tax write offs.
Something like that