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Results are out.The PE dropped to 15.5 today,but I don't see a 21% increase.
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1-I am not maintaining a household in S.A.I do not see myself returning to S.A in the near future,for at least 5 years if at all.I do see S.A as my home,but I don't specifically have any intention of going back unless I have to.
2-I have been out of the country for 3 years and have not returned since.I may return to visit people for s short period of time but I plan to stay out of country for the foreseeable future.
2-I have been out of the country for 3 years and have not returned since.I may return to visit people for s short period of time but I plan to stay out of country for the foreseeable future.
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I just want to be clear.
1-As a non-resident am I still supposed to file my foreign earnings on e-filing along with my stock sales profit together(in the same entry) as voluntary disclosure or ITR12?
2-I am not emigrating.I am just a non-resident.Am I correct in assuming that as a non-resident I do not have to submit anything except change my adress?
3-Is it possible to subtract Forex loss's from any gains.For example,lets say I send some money to S.A from a foreign country,and then the Rand drops even furthur significantly.Could that be seen as a loss?
1-As a non-resident am I still supposed to file my foreign earnings on e-filing along with my stock sales profit together(in the same entry) as voluntary disclosure or ITR12?
2-I am not emigrating.I am just a non-resident.Am I correct in assuming that as a non-resident I do not have to submit anything except change my adress?
3-Is it possible to subtract Forex loss's from any gains.For example,lets say I send some money to S.A from a foreign country,and then the Rand drops even furthur significantly.Could that be seen as a loss?
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Thank you .That is informative.
Could you or anyone else please paraphrase point 4,especially the second half of it?I'm unclear on it.
Secondly,I am a non-resident,which means that I do not have to pay CGT in S.A.What would happen if after a few years I have to be classified as a resident in SARS eyes?Will I have to pay back that CGT I hadn't paid in previous years?
Or must this CGT tax be paid in the country of residence?
Could you or anyone else please paraphrase point 4,especially the second half of it?I'm unclear on it.
Secondly,I am a non-resident,which means that I do not have to pay CGT in S.A.What would happen if after a few years I have to be classified as a resident in SARS eyes?Will I have to pay back that CGT I hadn't paid in previous years?
Or must this CGT tax be paid in the country of residence?
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This is a little confusing.
1) So this means no tax on dividends in S.A,but I should pay tax on the dividends(and any other profits) in the country I am in?
2)Is it possible to claim back dividend taxes I was already charged with?
I just changed my status to non-resident with SARS.However,My broker account is still a local account,even though I opened it overseas.
3)So I still have to submit everything to SARS and they will know not to tax me on foreign income,correct?
1) So this means no tax on dividends in S.A,but I should pay tax on the dividends(and any other profits) in the country I am in?
2)Is it possible to claim back dividend taxes I was already charged with?
I just changed my status to non-resident with SARS.However,My broker account is still a local account,even though I opened it overseas.
3)So I still have to submit everything to SARS and they will know not to tax me on foreign income,correct?
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Yeah,I was taxed on my share earnings.I haven't filed taxes for any share profits from sales.
My broker has me as a resident and tells me that there is no difference in the tax implications between being a resident and non-resident.
I think the tax treaty(double taxation avoidance) overrides the physical presence test.
So do S.A earnings tax not refer to me since I earned the capital in another country,even though investing in S.A?
Are you saying I shouldn't pay tax,trading,CGT,or otherwise as long as my investments/trading is not related to property.
My broker has me as a resident and tells me that there is no difference in the tax implications between being a resident and non-resident.
I think the tax treaty(double taxation avoidance) overrides the physical presence test.
So do S.A earnings tax not refer to me since I earned the capital in another country,even though investing in S.A?
Are you saying I shouldn't pay tax,trading,CGT,or otherwise as long as my investments/trading is not related to property.
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Allrighty, S.A and the country I work in have a double taxation agreement, which means that if I'm taxed here, then I won't be taxed in S.A(as I understand it).
Does this mean that the income from my job is excluded from being processed into e-filing?
Also, as I understand it,Fifo and weighted average work together,and are not mutually exclusive.
Are there any other benefits to the other method?
The way I understand the deductable tax from gains is as follows
CGT tax on profits from equities that obey the 3 year rule are taxed at 33,3% of 40%.
This works out to 13.3% for CGT,if the 3 year rule is observed.
This all depends if you are in the 40% bracket, which applies to taxable income in excess of R638 600 P.A for 2014.
My taxable income is below this, even if I had to pay tax in S.A.Do I still fall in the same tax bracket of 40%?
Does this mean that the income from my job is excluded from being processed into e-filing?
Also, as I understand it,Fifo and weighted average work together,and are not mutually exclusive.
Are there any other benefits to the other method?
The way I understand the deductable tax from gains is as follows
CGT tax on profits from equities that obey the 3 year rule are taxed at 33,3% of 40%.
This works out to 13.3% for CGT,if the 3 year rule is observed.
This all depends if you are in the 40% bracket, which applies to taxable income in excess of R638 600 P.A for 2014.
My taxable income is below this, even if I had to pay tax in S.A.Do I still fall in the same tax bracket of 40%?
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Shares / Re: What is the use?
« on: March 25, 2014, 01:50:34 pm »[/quote]
But what if I am only stock trading and have a job,can the loss from one trade be deducted from the gain tax free from another trade before tax is calculated?
[/quote]
I have an add on segment to the previous question I asked.Can the loss from one trade be deducted from the gain from another trade before tax is calculated,even if the 2 trades are in 2 different tax year's?
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Shares / Re: What is the use?
« on: February 26, 2014, 06:54:06 am »In my case, I had 2 trading businesses. One was a coffee shop and the other was stock trading as I had not held the stocks for 3 years yet.
So this means that I had 2 incomes and the profits from both must be combined.
A loss from one can be deducted from the gain of the other.
But what if I am only stock trading and have a job,can the loss from one trade be deducted from the gain tax free from another trade before tax is calculated?
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Shares / Re: Probably the only chart that matters now.
« on: February 25, 2014, 08:56:40 am »
If America's economy and stock market fails because of inflation or hyperinflation,how badly will this affect the South African stock market?
Also,what do you think of experts in this field who believe that this will happen soon such as Peter Schiff?He predicted the previous economic crisis.
Also,what do you think of experts in this field who believe that this will happen soon such as Peter Schiff?He predicted the previous economic crisis.
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Shares / Re: Metair. Titan or Titanic?
« on: February 19, 2014, 01:19:10 pm »
Unfortunately they have not made that video available online,searched high and low.Also,Metair went beyond R45 today 
.Wanted to buy more,but Ill wait till it comes under R45 if it does.
.Wanted to buy more,but Ill wait till it comes under R45 if it does.
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Shares / Re: My retirement blog.
« on: February 19, 2014, 07:13:18 am »
Orca,May I ask if your portfolio has changed significantly,any long term stocks added or sold?