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I have another weird tax question.

Let's say you have no other income besides dividends, obviously you pay dividends withholding tax before the money gets into your account, but come tax season, will you be entitled to the primary rebate on some of those dividends?

Well the only income you have from dividends will be declared under 'exempt local and foreign dividends' under 'amounts considered non-taxable'.
So you will pay nil tax (withholding tax has already been deducted). Consequently there is nothing to deduct a rebate from. It would be a miracle if SARS would allow one to deduct the rebate(s) from nil, and credit you accordingly.

The deficit on SA’s current account - the broadest measure of trade in goods and services - widened more than expected in the second quarter, to 6.5% of gross domestic product (GDP) from a deficit of 5.8% of GDP in the first quarter, the Reserve Bank reported on Tuesday.

“We would have thought the rand would have weakened more on the deficit number that came in worse than expected this morning. It is not a good figure,” RMB currency trader Jim Bryson said.

Probably an outperformer certainty for long term portfolios. Results out today were very good indeed. The important stuff from the SENS:-

- We continue to make progress on the execution of the front-end engineering and design (FEED) phase of an integrated, world-scale ethane cracker and
downstream derivatives units, and will commence with FEED for the US GTL and chemicals value-adds facility at the Lake Charles chemicals complex in Louisiana,
the United States, during the second half of the 2013 calendar year:

- The ethane cracker (estimated to cost between US$5 billion and US$7 billion) will produce 1,5 million tons of ethylene that will be used to manufacture a range
of ethylene derivatives. The main technologies for the ethane cracker and derivatives units have been selected and we have placed orders for critical long-lead
equipment. We expect beneficial operation for the ethane cracker to be achieved during the 2017 calendar year, with the final investment decision (FID) to be
taken during the 2014 calendar year.

- The US GTL facility (with an estimated cost of between US$11 billion and US$14 billion) will produce at least a nominal 96 000 barrels per day (bbl/d) of
product, with the potential to produce up to 10% more. The US GTL project will be delivered in two phases after the ethane cracker, with each phase comprising at
least 48 000 bbl/d. The FID for the US GTL project is expected to be taken within 18 to 24 months after that of the US ethane cracker.

- We have submitted the filings for the key environmental permits, and have regular interaction with the authorities and other stakeholders to monitor the process.
The outcome of the permit applications are expected towards the end of the FEED phase.

The Front-End Engineering and Design phase for the Gas to Liquids (GTL) project should be completed ± Jan/Feb 2014 an hence the permit applications.
SOL will be sitting pretty once they start conversion of the fracking shale gas to liquid.
The US will also be sitting pretty and US imports of oil from dictatorships like Angola, Eq. Guinea and other African countries will dwindle to probably zero.
I should have kept my SOL which I sold at a loss end October last year. Am thinking of getting in again. 
Anyone support my positive views (besides TheKwok) ?

EDIT: On the other hand, we will have all that additional oil/gasoline - what will that do to the price of oil ? OK Saudi Arabia's production will decrease rather than increase going forward, which may or may not cancel out the additional US supply. What are your thoughts ?

Quote from: Soutie on August 20, 2013, 08:43:09 pm

We will trundle along as we have done under Zuma until he is retired, removed, gone. Big business are in limbo until clear economic policies are there to encourage growth coupled with a revision of the more onerous labour laws. Cut the red tape for small business & if possible get the stealing down to R10 billion per annum. Sorry to see Vavi plot his own downfall as this will embolden Zuma even more. Lets wait and see who emerges front & centre at the 2014 trough.
If Marcus does raise rates banks & credit retailers will be a screaming short.

A sane RBG should really see the need to raise rates. Our real rates are negative whereas in the US they are postive to the tune of nearly 3%.
That coupled with a weakening Rand, and 6.3% CPI (latest), and no one should be surprised that funds are being 'repatriated' to the US and to
a lesser extent to some Eurozone countries. An increase in rates would help to stem the ouflow and our JSE would not suffer unduly. ROE would
then also turn, but that depends on other variables as well, like the current account deficit and the points you have mentioned.
No gain without pain as they say at the gym.

Interest-rate swaps show investors expect South Africa and India’s benchmark rate will increase by at least 0.25 percentage point, or 25 basis points, by year-end, according to data compiled by HSBC Holdings Plc. In Brazil, policy makers are forecast to raise the key rate by 100 basis points to 10 percent, and Turkey will lift the benchmark one-week repurchase rate by 200 basis points to 6.5 percent, the data show.

Politics should never play a role. Markus must increase.

Any1 have an idea on this 1. I put code in RBW, my broker website and sharenet says does not exist?

Renamed to RCL Foods Ltd. on 2 Sep 2013

http://www.moneyweb.co.za/moneyweb-south-africa/rcl-foods-results-decimated

Pretoria, 30 August 2013 - The South African Revenue Service (SARS) today releases trade statistics for July 2013 that record a trade deficit of R14.21 billion.
 
Summary
 
The R14.21 billion deficit for July 2013 can be attributed to exports of R75.69 billion and imports of R89.89 billion.
 
Exports increased from June to July by R7.45 billion (10.9%) and imports increased from to June to July by R13.97 billion (18.4%).
 
The cumulative deficit for 2013 is R89.37 billion compared to R59.02 billion in 2012. 
 
Trade Highlights by Category
The June to July change (up by 10.9%) in exports of goods reflected increases mainly in:
Precious and semi-precious stones and metals increased by R3 149 million (22%);
Base metals and articles thereof increased by R1 265 million (16%);
Machinery and electrical appliances increased by R1 025 million (18%);
Vegetable products increased by R 583 million (14%);
Vehicles, aircraft and vessels increased by R 564 million (8%);
Products of the chemicals or allied industries increased by R 526 million (15%);


The June to July change (up by 18.4%) in imports of goods reflected increases mainly in:
Machinery and electrical appliances increased by R3 799 million (19%);
Vehicles, aircraft and vessels increased by R2 436 million (32%);
Products of the chemicals or allied industries increased by R2 290 million (34%);
Original equipment components increased by R1 174 million (23%);
Vegetable products increased by R 906 million (78%);
Plastics and rubber and articles thereof increased by R 761 million (27%);
Textile and textile articles increased by R 610 million (29%);
Base metals and articles thereof increased by R 480 million (12%);
Footwear, headgear, umbrellas and articles increased by R 449 million (67%);

Continuing uptrend ..

Hey Patrick:- - used to be part of a group who posted a hot looking babe once a week as Fridaay Chicken - how about trolling your dating site for some stunners and posting their pictures on this site once a week

An image of a portion of my comp. screen (old one, I have many more), should infuse the likes of gcr, even at his age, with renewed vigour.