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Old 05-04-2011, 11:10 PM   #1
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OANDA SG

anyone knows whether OANDA SG gains are taxable?

asked OANDA and they could not provide me an answer
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Old 05-04-2011, 11:53 PM   #2
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capital gains not taxable in sg...
someone ask b4
the thread somewhere here...
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Old 06-04-2011, 12:20 AM   #3
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last time i also asked before, now my turn to answer on their behalf

As long as this is not your main job, its consider as just capital gains.

so capital gains is not subjected to tax.
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Old 10-04-2011, 11:17 PM   #4
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last time i also asked before, now my turn to answer on their behalf

As long as this is not your main job, its consider as just capital gains.

so capital gains is not subjected to tax.
what if it is my main job? will they tax anything in excess of 20K per annum?
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Old 10-05-2011, 02:36 PM   #5
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what if it is my main job? will they tax anything in excess of 20K per annum?
It doesn't matter if you have a main job or not.

While we do not have capital gains tax in SGP, if you trade (any investment) very frequently, IRAS may have the opinion that you're conducting a trade (e.g. like provision shop) and tax you on your profits.

And in a game of forex trading, especially on margin trading, you never hold your positions for very long, so it is very hard to say you're holding "for long-term investment".

Don't use the term "capital gains" so liberally. IRAS lax attitude towards enforcement of such income does not make it tax free.
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Old 10-05-2011, 08:02 PM   #6
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Bangkern r u from kpmg tax? Yr nick sounds familiar. Haha
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Old 24-05-2011, 01:00 PM   #7
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It doesn't matter if you have a main job or not.

While we do not have capital gains tax in SGP, if you trade (any investment) very frequently, IRAS may have the opinion that you're conducting a trade (e.g. like provision shop) and tax you on your profits.

And in a game of forex trading, especially on margin trading, you never hold your positions for very long, so it is very hard to say you're holding "for long-term investment".

Don't use the term "capital gains" so liberally. IRAS lax attitude towards enforcement of such income does not make it tax free.

But if the money is made outside of Singapore, i suppose its tax free ?
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Old 02-06-2011, 07:39 PM   #8
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But if the money is made outside of Singapore, i suppose its tax free ?
Money made outside, and KEPT outside, yes.

Once you bring it back, you're caught.
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Old 02-06-2011, 10:46 PM   #9
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Since IRAS can tax the trading gain, may i know if i have trading losses, can i deduct the amount from personal income tax also?
Pai seh i really know nothing abt trading income tax.
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Old 02-06-2011, 11:41 PM   #10
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no need pay so dont ask anymore, u are more like to bust your account after account if u dont learn
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Old 06-06-2011, 03:09 PM   #11
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not taxable. Singapore no capital gains tax.
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Old 06-06-2011, 09:06 PM   #12
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no need pay so dont ask anymore, u are more like to bust your account after account if u dont learn
To pay tax to IRAS, i dun mind if i can . Because to pay tax i need to constantly make profit.
My question is why the IRAS ONLY come to tax us when we make a lot of profit but not telling us we can use the trading losses to reduce personal income tax payment?

Example
Trader A made $200K profit trading FX full time, so he got to pay tax.
Trader B made a loss of $200K trading FX full time but at the same time earned $200K income from other business, can he use the $200K trading loss to reduce payable income tax or does he still need to pay tax becos his net income is zero?

Really appreciate if anyone here can advise me this issue....
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Old 08-02-2012, 01:15 PM   #13
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I'm not surprised that many people are unaware that income from trading forex are subjected to income tax. Most people simply quote "no capital gains tax in Singapore" without knowing what it exactly means. Then again, it is also this group of people who never make much (if any) profit from trading to declare in the first place.

Along the journey of trading, I have learn that the masses make too much assumption, that is why the majority loses in the forex market.

Gains from trading is not gains from investment.
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Old 13-02-2012, 01:49 PM   #14
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maybe the best person to ans will be IRAS
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Old 13-02-2012, 02:24 PM   #15
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I had the same question like you before. I approached a successful trader in Singapore who trades for a living and his reply was:

"It all depends on whether profit is considered as capital gain or income.

For captial gain, it is not taxable.

But if you are a full time trader, your profit becomes your income. Then this is taxable.

Same like shares. If your profit is a capital gain, is it not taxable.
But if you are a full time trader, then it is your income and it is taxable.

So keep your profit as capital gain."

Hope this helps

Cheers!
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