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Messages - Patrick

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1
Off topic / Live chat
« on: Today at 10:00:10 am »
Trying a new quick game here, if you guys would like to test and give some feedback before it goes live pls: https://theinvestorchallenge.com/games/com_game_monthly.php

2
Off topic / Live chat
« on: Today at 09:59:37 am »
@stefan, I responded to your email query but if anyone else is wondering, I use either RandSwiss or ClickFX to move funds offshore. Stay a million km away from banks when doing that, they'll charge you three times what you should be paying.

3
Off topic / Live chat
« on: January 18, 2019, 09:54:54 am »
Haha, the first is far easier to include on the chart. Maybe not quite as useful.

4
Off topic / Live chat
« on: January 18, 2019, 08:13:04 am »
No problem with that, but I'm going to have to go and figure out what a MACD is now :)

5
Off topic / Live chat
« on: January 16, 2019, 02:03:33 pm »
:) I see you beat me on the leaderboard already :(

6
Off topic / Live chat
« on: January 16, 2019, 12:20:17 pm »
Okay so now the Turbo challenge has a leaderboard too, and guess what, I'm in the lead! https://theinvestorchallenge.com/com_stats_turbo.php

7
Shares / Re: My retirement blog.
« on: January 16, 2019, 07:58:44 am »
Lagos is said to have the best beaches.
I was there in October, they are ridiculously beautiful. Worth climbing those steps :)

8
Off topic / Live chat
« on: January 15, 2019, 05:18:20 pm »
Made a turbo challenge. See if you can time the market compressing 20 years into 60 seconds using real S&P 500 data: https://theinvestorchallenge.com/games/com_timing.php Would love some feedback please.

9
Off topic / Live chat
« on: January 14, 2019, 01:42:31 pm »
done

10
Off topic / Live chat
« on: January 14, 2019, 01:23:59 pm »
Haha right. I should probably put a link here somewhere. Maybe on the home page...

11
Off topic / Live chat
« on: January 11, 2019, 03:18:24 pm »
Good here too. Wow MP that sounds a lot more difficult than I actually thought. Something to think about for when my sons decides he wants to study.

12
Off topic / Live chat
« on: January 10, 2019, 01:39:48 pm »
More drones?

13
Shares / Re: Bloomberg watchlist
« on: January 10, 2019, 01:39:05 pm »
No idea, I've never used bloomberg. I'm a fan of tracking things using google sheets. You can get the current price by using a formula like this for Naspers: =GOOGLEFINANCE("JSE:NPN","price")

Then just multiply by how much you hold and you're done.

14
Shares / Re: Tax on foreign share dividends
« on: January 10, 2019, 01:36:01 pm »
How are dividends on foreign shares taxed by SARS? I'm talking about completely foreign companies and ETFs, brokered through an offshore broker in USD, not dual listed shares. It's difficult to pin down the rules, because the web is full of old or inconsistent information.

Read this: https://investorchallenge.co.za/pay-less-dividend-tax-by-doing-this-one-thing/

Questions:
  • Is there a dividend withholding tax (typically 15%-20%) levied in the foreign jurisdiction on the R100 000 before it hits my account? So do I pay double taxes?
With a US ETF it's yes, 15%. Irish ETFs are exempt but there's still tax leakage inside the fund, so the real answer is always yes.
  • How do I convert USD to ZAR? Average over the year or at the date of declaration
SARS gives you the option. Either they have a year average you can use, or you can use the daily for then the divvie was paid. I use the average.
  • Are there any foreign tax credits I can use? The ITR12 SARS form seems to suggest so.
Yes, as long as you have documentation that it was withheld from the broker to you. I tried to do this with my Irish ETF by calculating the tax internally withheld and failed.
  • How does SARS calculate foreign dividend exemptions? See attached shot of ITA34 section
25/45 * dividend amount is exempt currently.

None of this is to be considered advice. Talk to a decent tax guy so you don't end up caught out like me last year! My next blog posts will have more details.
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15
Off topic / Re: dividend etf
« on: January 10, 2019, 01:21:28 pm »
None of them! I don't like any of the South African ones, and to be honest don't believe in buying anything for the dividend alone. I still just prefer a simple all world ETF.

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