The Australian Stock Exchange Ltd (ASX) is an Australian public company that operates Australia’s primary securities exchange, called the Australian Securities Exchange. The ASX has an average daily turnover of A$5 billion and a market capitalisation of around A$1.6 trillion, making it one of the world’s top 15 listed exchange groups.
Some facts on Australia’s capital markets:
- Equity market – The 8th largest in the world and the 2nd largest in the Asia-Pacific.
- Funds management – Due largely to its compulsory superannuation system, Australia has the largest pool of funds under management in the Asia-Pacific region, and the 4th largest in the world.
Share investment seminars generally aim to assist investors to understand how the share market works, explore different investments classes, and develop an investment strategy. Some share investment seminars are free (see www.asx.com.au), and others can cost thousands of dollars.
A deduction is allowed to the extent that the share investment seminar relates to either a share trader or share investor’s current income-earning activities. So, for a share investor, the seminar would need to relate to managing dividend earning investments to maximize the dividend yields on those investments.
Seminars that enable the taxpayer to gain the knowledge and skills to establish a strategy for trading in shares or for making future share investments are not deductible as they are capital.