166
true, but by the time the dividends reach you, SARS has already taken their undeserved share of 15%
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167
Just received a quote from a tax accountant to reconcile my trading since 2009. Came to R6 000.00.
Voluntary Disclosure done but no reply from SARS yet.
.... and surely you can deduct the R6k from your income over that period
169
The Investor Challenge / Re: investor challenge
« on: July 05, 2013, 06:41:06 pm »
that's my understanding as well tgg, but chances are that you will sooner or later get hassled by SARS if it happens frequently
170
Oh oh, a difficult one. I have never been a UT investor, but would venture to say, seeing that all the trading is done by the UT management companies, one would not get taxed as a trader.Yes, the collective schemes investment act means that the UT's don't pay CGT, but as a holder you need to pay CGT when you sell units applying weighted average cost.
Any idea if you'd get taxed as a trader for selling unit trusts before the 3 year period is up? My UT has recently upped the fees and I'd be much happier putting those funds into ETFs.
Anyone ?
I would think, that as you have a valid reason for selling, i.e. not taking profit, you could get by not being classed as a trader
172
We don,t loose 20 or 13 %, that is our part to finance the powers that be
I am comfortable being a trader and follow the various market segments, If I was an investor, i would put my my money in a fund, either unit trust or maybe satrix ind. and just sit back and relax.
But the share market is my hobby, like riding bike is to some people
the other point one can make, is that if you are against the trader option, you only have "new Money" available for opportunities that might crop up
.... and some of us have trading AND bikes as our hobbies
174
The Investor Challenge / Re: Tax
« on: July 01, 2013, 07:11:40 pm »I got the same email, how about we move tax to it's own thread.
good idea
175
Thanks for letting me know. That sucks on so many levels
well, basically it means that where you previously got 75% of your growth tax free, you now only get 66.7% of your growth tax free when keeping your shares > 3 years
176
Ah that number was my addition. I was under the impression that it was 25% of the capital gain would be added to your income. Meaning a max of 10%. Do you have a sars link?
http://pghaccountants.co.za/tax-budget-speech-summary-20122013/
and
http://www.moneywebtax.co.za/moneywebtax/view/moneywebtax/en/page34677?oid=65832&sn=Detail
177
I quote from the email sent by Patrick:
"Monthly tip courtesy of Orca:
Tax can eat up a huge part of your gains if you sell your shares (for a profit) within three years of purchase. The reason for this is that if you hold you shares for longer than three years and then sell, you'd only pay capital gains tax, which has a maximum percentage of 10%. "
AFAIK the 10% has been at 13.3% for the past two years.....
"Monthly tip courtesy of Orca:
Tax can eat up a huge part of your gains if you sell your shares (for a profit) within three years of purchase. The reason for this is that if you hold you shares for longer than three years and then sell, you'd only pay capital gains tax, which has a maximum percentage of 10%. "
AFAIK the 10% has been at 13.3% for the past two years.....
178
The Investor Challenge / Re: Meaning of greyed out names - Leaderboard ?
« on: May 10, 2013, 06:43:26 pm »yip..... and in the past 6 months, only R130k of their shares have been traded - 6MONTHS!
I have an order on to sell some of my Cashbuild shares and the price asking is R 135 (currently R 122.80) but during the auction someone purchased 2 of my offered shares - why I don't know but whoever it was made my sale hugely expensive as I got R 270 but incurred R 92.70 as a minimum brokerage charge. So yes there are some very stupid operators out in the market, who don't look at the all in costs before doing a deal
that actually happens quite often in many shares - I think it's people manipulating the price to get it to move in a certain direction, so that they can buy or sell larger lots, then that small trades cost is insignificant, if they have managed to move the price and expectation of other buy/sellers - happens more with illiquid shares though
179
The Investor Challenge / Re: Meaning of greyed out names - Leaderboard ?
« on: May 09, 2013, 06:58:33 pm »
yip..... and in the past 6 months, only R130k of their shares have been traded - 6MONTHS!
180
The Investor Challenge / Re: Meaning of greyed out names - Leaderboard ?
« on: May 09, 2013, 06:14:57 pm »I don,t think a vote is needed about keeping a portfolio private, just add up the private vs non private portfolios and the majority wins.
This is after all just a game, it is not that there is money to be won. It is about broadening your horizons and helping each other gain more insight into investing.
So how is a private portfolio going to help
I agree +1