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Messages - Orca

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1726
Shares / Re: My retirement blog.
« on: December 17, 2013, 05:46:50 pm »
Went shopping with the wife today. Geez. Meat prices have gone up by R20 per kilo overnight. Chops are R99.99 per kilo. Not even Best End.  :wtf: Pork chops are R89.99. Lean mince is R79.99. Last time I looked, Beef and Pork fillets were at these prices. Now they are R140.
How can pensioners survive at these prices? Getting worried now.
Hordes of shoppers were just staring at the meat and nobody buying. One woman was telling a packer off at the high prices as if it was his fault.
Walked away with some mince and chicken pieces.

1727
Shares / Re: My retirement blog.
« on: December 17, 2013, 05:09:55 pm »
Before I confuse some people I must add this. If you work in a foreign country but have property here or a wife and kids and consider SA to be your home. A place where you come back to on a regular basis. A place where you don't live out of a suitcase, the 91 days will not apply.

1728
Shares / Re: My retirement blog.
« on: December 17, 2013, 10:48:34 am »
Quote from: Nivek on December 16, 2013, 09:31:32 pm
Why not leave your money here and just take a VERY long holiday there?
That is exactly what I am planning to do. Minimum of 2 years and if we like it there, we will make it permanent.
Problem is that if I am absent from SA for 91 consecutive days, I will cease to be a resident here. If I am in any Euro country for 91 days or longer, I will have to apply for residency in that country.
These laws are relatively standard in all countries that have Full Double Tax Treaties.

1729
Shares / Re: My retirement blog.
« on: December 17, 2013, 10:37:40 am »
Quote from: gcr on December 16, 2013, 08:46:10 pm
Orca - not sure if you have studied Portugal's tax laws, if not maybe you need to. Just some live experiences - my sister and her husband have just retired to their French property and they can't earn any funds in France. If they do earn funds in France the French tax regime require them to list all foreign holdings and income earned outside of France. They would then be tax on these holdings/income as if they were residents of France. So all pension funds and income are generated in in Britain and retained in accounts in Britain - when they require funds they carry the funds across in euros to France or used their British based credit cards. They were interested in running a B & B and doing some market gardening but have shelved these ideas due to the potential for double taxation

South Africa has standard Double Tax treaties with most if not all EU countries. (Shown on SARS website)
These treaties are put in place to prevent paying Double Tax.
All income is taxed at source. For instance, If I were to move to France and earn my income here on the JSE, then I will pay normal tax in SA. In France I will have to declare my foreign income from SA and will get credit for the tax I already paid in SA. Due to the economy, most European countries pay 5 to 8% more tax than we do so I will only pay in the difference.
Portugal on the other hand has become a tax haven since last year. To attract foreign money, they have given a 10 year tax exemption to all foreigners seeking residency in Portugal.

1730
Shares / Re: My retirement blog.
« on: December 16, 2013, 05:24:30 pm »
Thanks Patrick. Can't wait for the sea bass and cod in Portugal next year. Spent most of today researching "Exit Tax". That is the tax one pays when one ceases to be a "Resident of SA". Very complex as Mark Shuttleworth found out in his court case against SARS this year.
I'll be OK with CGT less the exclusion of R30k but if my stocks are not yet held for 3 years, they might see them as trading stocks and tax me fully. This I cannot handle as the tax would be as high as R400K.
To pay this, I would have to sell R400k shares and this sale would attract more tax as revenue. To pay this "more tax", I would have to sell even more shares and then....... Aaaaarg.  :wall:   

1731
Shares / Re: My retirement blog.
« on: December 15, 2013, 07:11:02 pm »
Thanks Griffin. Been spinning for Yellowtail all weekend to no avail. Anyway, a bad day fishing is better than a good day at the office. Boats coming in with loads of Snoek though.
Anyway, to make myself credible, I have to show some figures. Nobody knows me anyway so here goes.
CML - R1 925 350.00. Eish. Too much but it just grew all by itself.
MTA and PNC at almost equal amounts totaling R643 000.00.
OMN has a teeny amount of R54 531.00. Was going to add to it monthly but decided to increase MTA for alpha.

That is roughly R2.6M. This is my starting point for this blog.





1732
Shares / My retirement blog.
« on: December 13, 2013, 07:25:56 pm »
Into my second month of early retirement and loving it. No more alarm clocks to wake me at 04.30am. Spent most of our time cleaning and clearing all the crap we accumulated over the years. Not done yet as we now have to get rid of all the DVD's, cameras, cellphones and other bric n brack. Perhaps Cash Crusaders next week.
Our landlord has given us till June latest to move out.

I have not yet had to sell shares due to the divies and the R10k the buyer of my business pays me every month. May will be the last payment. Then it will be selling shares for a living.

I have worked out that I can sell R70K of CML shares without any tax and will add to MTA. This is peanuts as I hold 30x more in CML. As much as I would like to sell most of my CML holding, I cannot as I bought it at 24 odd and it is now around 80. I have not held it for 3 years yet so will not be tax effective. Not that CML will tank soon but I think she will flatline.







1733
Shares / Re: Metair. Titan or Titanic?
« on: December 13, 2013, 03:10:05 pm »
Seems like all the big guns are buying up MTA. Here is another SENS made today.

NOTICE OF AN ACQUISITION OF A BENEFICIAL INTEREST IN METAIR INVESTMENTS LIMITED

In accordance with Section 122(3)(b) of the Companies Act, No 71 of 2008, as amended and paragraph
3.83(b) of the JSE Limited Listings Requirements, Metair shareholders are advised that the Company has
received notification that Coronation Asset Management (Pty) Ltd (?Coronation Asset Management?),
on behalf of its clients, has acquired a beneficial interest in securities (?the Acquisition?).

Following the Acquisition, Coronation Asset Management now holds 9.34% of the issued ordinary share
capital of the Company.

1734
Shares / Re: OMNIA
« on: December 12, 2013, 06:36:54 pm »
The narrowing of the BB channel means a breakout in some direction. Unfortunately she followed the general trend today and broke through the bottom BB for the first time. The only support I could find is waaay down but cannot see it tanking all the way there for no reason.
The Stochastic shows that she is well in the oversold region so we have a buy but waiting for the Fed speech next week will be a better option.
Dont look at your watch. It is not 7pm yet.

1735
Shares / Re: OMNIA
« on: December 12, 2013, 05:55:43 pm »
Been watching OMN for some time and after a good red candle day, shoved R270K into it. Then lo and behold. Another 2 big red candle days.  :frustrated:

1736
Shares / Re: Today's Outlook
« on: December 12, 2013, 05:35:55 pm »
Caught the last half of the reason why we tanked on Business News. The 2IC of the Fed Bank was either appointed today or he said something. He was Israel's Fed Bank chief and is known to be apposed to the stimulus.

All is not lost. We have to correct at some stage so rather now than later. Another 6% will be fine to get the technicals and figures back in line.
What I don't understand is why the GP tanked with equities. This hurts our market more than others.

 


1737
Off topic / Re: Malema pleads for jail term.
« on: December 12, 2013, 10:33:22 am »
Quote from: tgg78703 on December 11, 2013, 08:57:48 pm
I note is after 7 that you posted :)

Yes. I thought it was funny at the time.  :-[

1738
Off topic / Malema pleads for jail term.
« on: December 10, 2013, 07:17:21 pm »
Malema tweeted today after being upset by not being asked to say a eulogy at the memorial service. " People must treat me the same way that Nelson Mandela was treated".
Within minutes, Evita Bezuidenhout tweeted back." Very good idea. Now lets start with the 27 years".
Another tweet stated " OK now we can bury you on Sunday".

1739
Shares / Re: Metair. Titan or Titanic?
« on: December 10, 2013, 01:03:32 pm »
Following the Acquisition, Investec Asset Management now holds 6.8990% of the issued ordinary share
capital of the Company.

SENS made today.

1740
Shares / Re: Tax
« on: December 09, 2013, 07:25:07 pm »
What are the implications of such a change in the character of your shares? A change from
trading stock to a capital asset will trigger an income inclusion equal to the market value of
the shares.14 A change of a capital asset to trading stock will trigger a disposal for CGT
purposes at market value.15
A change in your intention will be irrelevant once section 9C applies to your shares.
Section 9C deems the proceeds on the sale of JSE-listed equity shares and equity shares in
resident companies to be of a capital nature once they have been held for at least three
years. Section 9C does not, however, trigger a deemed disposal of your shares held as
trading stock after you have held them for three years because the shares technically remain
trading stock despite them only being able to produce proceeds of a capital nature.16


The above was copied and pasted from SARS. You might be correct or not. Depends on how you read it.

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