I need some advice from the tax experts over here.
I have made some money doing CFD trading (30k) over the financial year and I have my day job as well (80k).
If I combined my total income , I will have to pay tax for all 110k.
I would like to know if there is a way to spend my CFD earned money on Gold or a land or any sort of investment that will bring my total income closer to 80k, so I can make my CFD earned money to make more money.
Thank you so much for your inputs. And apologies if I did not use much if the technical words. Hope to hear from you guys. Have a nice day.
( I am trading under my name and I have an abn under my name as well)