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Rebate or no rebate, one should be taxed on actual earnings and not nominal earnings. Off course that would never happen.What do you mean ?
There is a rebate on interest earned and in my age category it is R31,000 p.a. so interest earned is not at marginal tax rates>65 =R34500 (2013/14 tax year)
Nope.
And another question - Is there any benefit what so ever if you sell shares after retirement, after turning 60? This is your "pension" or part of your pension.
Orca, that 33.3 % you mention is it still the same percentage if you sell all your shares after turning 60 (retirement)?33.3% is the cgt rate applied to your gains. Your effective rate depends on your marginal tax rate eg. @ 40% marginal tax rate, you would effectively pay 13.3%. At a lower marginal rate you would pay less, eg. 9.99% @ 30% marginal tax rate.
“The view that developed markets are the only places to be may start being tested,” Vivienne Taberer, who helps manage the equivalent of more than $14 billion in fixed-income assets at Investec Plc, said by phone from Cape Town today. “Things are not that bad for emerging markets and not so good for developed markets.”
Lower currency volatility would increase carry returns on South African investments, luring investors to the rand, David Bloom, global head of currency strategy at HSBC Holdings Plc, said in an interview in Cape Town yesterday. Carry trade refers to the rate of interest earned from securities less the cost of funds borrowed to purchase them.
I thought that the R30 000 exclusion was for normal income tax,oops.Also,am I correct in assuming that all the transaction costs in a trade is included in the sell and buy price for tax purposes?Yes, transaction fees (brokers fee, strate costs etc.) are included in base cost and proceeds.
