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No. Only CGT on disposal. Scrip shares have zero base cost, which will bring down your weighted ave. cost per share.
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407
Shares / Re: Wait. ETF sales are ALWAYS taxed as CGT?
« on: December 19, 2015, 03:31:09 pm »
BTW - I have now heard from two people (that should know) that you can use the R23K interest allowance on REIT income one said it's actually in one of his returns. And, of course, there still could be a healthy untaxed/no cgt dividend stream from your TFSA's
Nope, REITS (local ones) are taxed under code 4238 (code not shown after building return - oversight by SARS).
and..
Quote
In the past the income derived from PLSs and PUTs was therefore taxable as interest. But REITs declare dividends and these dividends, unlike dividends declared from non-REIT shares, are taxable at your client’s personal marginal tax rate. The income being declared as a dividend is therefore not tax friendlier than when it was declared as interest. To the contrary, as the annual interest exemption may not be applied to REIT income.
I assume the person(s) you are referring to must have had other taxable income in excess of the R23800.- exemption, making it appear that the REITS also qualified.
408
Nene firing aftershock – Barclays UK wants to sell R73bn SA subsidiary Absa http://www.biznews.com/sa-investing/2015/12/16/nene-firing-aftershock-barclays-uk-wants-to-sell-r73bn-sa-subsidiary-absa/
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Shares / Re: STXIND vs DIVTRX
« on: December 16, 2015, 01:23:02 pm »Thinking of cutting my losses. Never wanted to be stuck in a sector like Financials as they are cyclical and has been in a bear mode for some time. The drought will hit the food retailers and not to mention the resources that DIVTRX has.I think DBXWD is a good choice.
Where to now??? DBXUS or DBXJP? No. Stuck in one country that could become stagnant. EU STOX? No. Too much turbulence from Syria and migrants that could cause the fall of the EU and the Euro.
DBXWD seems diversified and doing well. The 1% management fee is high though but worth it.
Perhaps 50/50 in DBXWD and STXIND would do it. I think so. Tomorrow I will watch the spread on DIVTRX and sell asap.
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Shares / Re: Rights issue taken up and CGT implications
« on: December 12, 2015, 08:13:01 pm »
I will try to get a definitive answer on Monday and post back. Thanks.
414
Shares / Re: Steinhoff
« on: December 12, 2015, 08:06:30 pm »Sure, but ANY, link to ZA is being punished to a greater or lesser extent, similar to what happened to dual listed stocks in UK ...I suppose PEP is weighing on SNH. As we all know retailers were decimated.
probably, but AFAIK SNH makes around 60% of their money in Europe, so the weak Rand should push our price up? I saw the SNH price in Frankfurt is basically the same as the price here in Zuma land
LONDON Dec 11 (Reuters) - Britain's top equity index fell to a 10-week low on Friday as investors dumped shares in companies focussed on South Africa following a reshuffle in the country's government.
I wouldn't worry about SNH though - it will shine - patience.
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Shares / Re: Steinhoff
« on: December 12, 2015, 06:53:28 pm »
I suppose PEP is weighing on SNH. As we all know retailers were decimated.
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Shares / Re: Rights issue taken up and CGT implications
« on: December 12, 2015, 05:14:51 pm »How does CGT work for scrip?Good question. The answer will probably be the same as for my question regarding shares acquired as a result of a rights offer take up.
418
Shares / Re: Rights issue taken up and CGT implications
« on: December 12, 2015, 04:03:20 pm »
Orca, I am talking about take up of rights offer here. Share was held for over 3 years but rights offer taken up before 3 years expired.
Will check with my broker's tax guy, but I think what I said about the situation in UK that: If you decide to take up the Rights Issue, it is treated as a "Share Reorganisation" by HMRC and the new shares are added to your existing holding, and are deemed to have been acquired at the same time and as your original share holding. will be the same here.
Could not find anything in 9(c) about this, only tax treatment of NPL's which I am familiar with.
What is this from 9(c)
Options and other rights to acquire qualifying shares are not equity shares and fall outside section 9C.
Will check with my broker's tax guy, but I think what I said about the situation in UK that: If you decide to take up the Rights Issue, it is treated as a "Share Reorganisation" by HMRC and the new shares are added to your existing holding, and are deemed to have been acquired at the same time and as your original share holding. will be the same here.
Could not find anything in 9(c) about this, only tax treatment of NPL's which I am familiar with.
What is this from 9(c)
Options and other rights to acquire qualifying shares are not equity shares and fall outside section 9C.
419
Shares / Rights issue taken up and CGT implications
« on: December 12, 2015, 10:29:11 am »
Original shares held for 3 years+
Rights taken up for additional shares 10 months ago.
All shares sold.
In the UK the position for tax treatment is :-
Capital Gains Tax: Take Up Rights Issue
If you decide to take up the Rights Issue, it is treated as a "Share Reorganisation" by HMRC and the new shares are added to your existing holding, and are deemed to have been acquired at the same time and as your original share holding.
Can anyone confirm whether the same applies here ? (I think it probably does)
Rights taken up for additional shares 10 months ago.
All shares sold.
In the UK the position for tax treatment is :-
Capital Gains Tax: Take Up Rights Issue
If you decide to take up the Rights Issue, it is treated as a "Share Reorganisation" by HMRC and the new shares are added to your existing holding, and are deemed to have been acquired at the same time and as your original share holding.
Can anyone confirm whether the same applies here ? (I think it probably does)
420
Shares / Re: Steinhoff
« on: December 10, 2015, 01:25:47 pm »
Because you have rand hedge stuff - the SA Inc stocks are suffering. Eg. local REITS down 8-10% following the long bond yield which is up to 9,5% from 8,8% yesterday. Offshore REITS like CCO RPL NEPI all up nicely.