Taxation rules - selling a contract position
When you sell a contract position, you must calculate gains and losses. Click here for an example of how to calculate gain/loss.
Any gain made on the sale of a contract position is taxable, and any loss made may be claimed as a deduction in your tax return. The tax exemption condition that applies when you sell your own residential property or holiday home cannot be met in this case, because there is no property to use/live in.
Whether the seller is a consumer (private individual) or a professional party generally does not make a difference when it comes to the issue of taxation – both situations involve the selling of an asset (contract position), and any gains will generally be taxable.