Are Australian citizens taxed on gains from daytrading US stocks?
I suggest tha tyou call the ATO and get their input on this question as frankly there are heaps of things to consider and much of it would have to be researched even by relativly experienced people and I doubt whether anyone is going to put in the time to try when they are not aware of all the relevant info (all of your personal circumstances etc). This is really not a easy thing to deal with in Yahoo so call the ATO or go see an accountant who can then ask you all of the relevant questions.
[ATO phone numbers]
http://www.ato.gov.au/corporate/content.asp?doc=/content/ato_contacts.htm