166
Shares / Re: My retirement blog.
« on: April 30, 2018, 10:47:47 am »
That's a very good idea. I will start looking into it. Thanks P.
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167
Shares / Re: My retirement blog.
« on: April 27, 2018, 10:06:06 am »
I did research for many months before I chose Portugal and the area in it to live so I was pretty much prepared.
What I should have done is arrive in winter and not mid summer. Finding long term rentals in summer is almost impossible. All available long term rentals become holiday rentals as the tourists pour in and grab whatever is available for 4 times more than long term rentals. The landlords greed wanes in winter and will often offer long term rentals.
What I should have done is arrive in winter and not mid summer. Finding long term rentals in summer is almost impossible. All available long term rentals become holiday rentals as the tourists pour in and grab whatever is available for 4 times more than long term rentals. The landlords greed wanes in winter and will often offer long term rentals.
168
Shares / Re: My retirement blog.
« on: April 24, 2018, 09:08:31 pm »
My daughters home on the first pic and her walking to work on the next. The following one was a mistake but I will leave it there.
169
Shares / Re: My retirement blog.
« on: April 24, 2018, 09:04:03 pm »
Just got back from Wales. Snow and more snow.
170
Shares / Re: My retirement blog.
« on: April 24, 2018, 08:56:27 pm »
Well now. It has been many months of fighting with the Portugal IRS about the base cost of my shares as they will not accept the "Exit Tax" that reset it to new values. I have been paying SARS R10k pm as the tax is R58k.
I eventually sold all but as Portugal is not accepting the above they have billed me for R200K odd. This differs to my previous posts due to FX rates. I probably would have got off without paying the exit tax but I chose to do so due to the large diffs in tax between the countries.
A flat rate of 28% in Portugal for Capital gains is severe compared to SA where it is about 13%.
The reason why I am not getting anywhere with the IRS here is that they keep sending me letters to provide proof to my local tax office and when I do go there they do not even look at the docs and cannot speak a single word of English so resort to waving of hands and shouting of what sounds like profanities and I leave there with no knowledge with what to do but wait for the next letter.
You will now ask why my accountant does not do it for me. The answer is simple. She lives in Lisbon and that is a long way from here. There are no local accountants that speak English that could accompany me to my local IRS. I live in a city but it is in the far north so not a tourist area so not many locals have exposure to the English language as they do in the south.
As to my stocks.... down about 30%. A catastrophe seems to be playing out but we will prevail.
I eventually sold all but as Portugal is not accepting the above they have billed me for R200K odd. This differs to my previous posts due to FX rates. I probably would have got off without paying the exit tax but I chose to do so due to the large diffs in tax between the countries.
A flat rate of 28% in Portugal for Capital gains is severe compared to SA where it is about 13%.
The reason why I am not getting anywhere with the IRS here is that they keep sending me letters to provide proof to my local tax office and when I do go there they do not even look at the docs and cannot speak a single word of English so resort to waving of hands and shouting of what sounds like profanities and I leave there with no knowledge with what to do but wait for the next letter.
You will now ask why my accountant does not do it for me. The answer is simple. She lives in Lisbon and that is a long way from here. There are no local accountants that speak English that could accompany me to my local IRS. I live in a city but it is in the far north so not a tourist area so not many locals have exposure to the English language as they do in the south.
As to my stocks.... down about 30%. A catastrophe seems to be playing out but we will prevail.
172
Off topic / Re: Live chat
« on: April 23, 2018, 01:24:20 pm »
Not really so much the zar but....LONDON, April 23 (Reuters) - The U.S. dollar rallied to a seven-week high on Monday after a rise in the 10-year U.S. Treasury yield to within a whisker of 3 percent sent investors rushing to buy the greenback, leaving the euro and yen sharply lower.
173
Off topic / Re: Live chat
« on: April 19, 2018, 07:37:19 pm »
My stocks don't follow the TOPI at all as the TOPI is controlled by 3 large caps and does not represent the performance of the JSE overall.
174
Off topic / Re: Live chat
« on: April 03, 2018, 08:03:14 pm »
I'm in Wales ATM and see the food prices are about 20% more than last year. Banks closing hundreds of branches due to e-banking. Residential housing prices are sky high due to no new builds. Rental prices are double compared to Portugal. Rent includes rates and taxes and about R1 300.00 pm for utilities is separate. Just bought Chinese Chicken Chow Mein (500ml) for R100.00.
175
Off topic / Re: Live chat
« on: April 03, 2018, 03:49:37 pm »
Citywire UK. UK investor sentiment as low as 2008.
179
Off topic / Re: Live chat
« on: February 27, 2018, 07:52:59 pm »
That is not the case as it would have given a sudden sharp spike when announced. It did not happen as it was gradual softening of the zar. This was merely a temporary profit taking and will not last long as the zar was overbought in the short term.
180
Off topic / Re: Live chat
« on: February 21, 2018, 06:18:16 pm »
Plus we get huge discounts when 65 years old like half price for public transport. Plus tax deductions at year end for medication, groceries, utilities, rent etc. Anything you buy or pay for you are asked for your tax number and it gets entered on your personal tax work page. Just rubbing your nose in it. 
Even with the high VAT, food is still cheaper here though.
Even with the high VAT, food is still cheaper here though.