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What about if you buy shares/etf's monthly over a period of 3years? There's going to be 12 transactions a year 36 transactions in total. Does it mean if you sell all in month 37 you'll only pay cgt?

if you sell all in mnth 37, you'll pay CGT on one month and PAYE on 35 months - gotta own the shit for 3 years

19. Conclusion

Section 9C provides taxpayers with certainty that if they hold equity shares for at
least three continuous years the gains and losses on disposal will be of a capital
nature regardless of the intention with which the shares were originally acquired. The
section has a much wider application than its predecessor (section 9B) in that it
covers unlisted shares and a member’s interest in a close corporation instead of only
JSE-listed shares. But not all types of shares qualify under section 9C; for example,
non-participating preference shares, shares in foreign companies (other than JSE-
listed shares) and participatory interests in portfolios of collective investment
schemes in property fall outside section 9C. Its provisions are now mandatory and no
election is required or even possible. The wider ambit of section 9C has necessitated
the inclusion of a number of anti-avoidance measures. The capital or revenue nature
of shares disposed of within three years of acquisition will continue to be determined
according to principles laid down by case law.

seems quite clear and unambiguous.....

I read it as a "CONCLUSION" by SARS themselves and have been applying this to my trades, irrespective of what my original 'intention' supposedly was

AFAIK SARS is only interested when you sell something

thanks gcr - I will have to find out if ABSA even offers dual accounts - seems like quite a schlepp, but it would be a PIA to pay full tax in single year on a shares growth over three years, just because you sold a trading share....

But surely a portfolio could consist of two parts, one part being long term investments and the other short term, i.e. trading

Therefore, we would need to apply these "real-life" conditions to the comp. As the comp is annually based, we need to consider that the "waiting" periods applied need to be adjusted accordingly, and therefor I propose the following -
Allow investors to make as many sells as they like, provided that

• The share being sold has been held for at least 3 months
• All shares are sold (none of that 50% now/50% later stuff)
• The same share cannot be repurchased for at least 2 months after being sold

my view is that will be too prescriptive (and probably too complex to manage)....
what if I buy a share today and a very bad SENS comes out tomorrow that changes my view about the prospects? In real life, I would sell and not wait 3 months
why sell all my shares? I've often bought while averaging the price down and sold while averaging up...

I believe if it is on the market then it should be available for competition. If some1 kick your @ss using a 2c share, then so be it, cause if it was real he still would have kicked your @ss.

only if there were enough sell shares on offer at the price that the person bought in and his holdings should then be valued at the buy price offer

true, but by the time the dividends reach you, SARS has already taken their undeserved share of 15%