I have been developing algorithms and custom screeners for trading shares based on Technical Analysis . I am using either TradingView for building strategies and python based discord bots for custom screeners. I have obtained handful of followers and also getting lots of request to develop custom trading algorithms. At present, I am not really entertaining them but thinking of turning this into freelancing + offer the trading strategies I personally use to others based on subscription.
My major questions before starting this are:
1. Does selling these strategies constitute financial advice? TradingView disclaimer says this - Disclaimer. Hence, I believe anything developed and published on TradingView cannot be considered as financial advice.
If I turn this into side business, my intention is to sell this to traders who understand technicalities and not to people who want a blackbox which generate buy and sell signals. I also intend to sell them as software with full description of how they work instead of financial advice. Does adding a meaningful disclaimer in my website makes it clear or do I need to do anything more?
2. I am trading shares as trader and on ABN. Adding a business on this will also help me reduce tax on my trading income as I am not expecting any income to start with. But, I will involve my wife for managing this and can divert some of my share trading income to her as pay. I do not want to form family trust as I want to keep the option to reduce tax from my PAYG income if my sharetrading results in loss in any financial year. This may not happen, but, it is very much possible. Plus, this also enables me to spend more on algo development infrastructure with tax deductions.
Question here is, is it possible to do this on ABN without registering a company but still using a generic business name. Or if we are using business name, we are supposed to register company?
Appreciate any insights into this.
PS: I requested few nearby lawyers to assist in this regard. But, they all said, this is too specific and they don't have expertise.