1741
Bundu. I will find the clause and post it here. The same applies when I emigrate. All my assets will be deemed as sold the day before my departure and I will have to pay CGT tax on it and the new Base Cost will apply.
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1742
I hear what you are saying gcr. My broker sends me a yearly summary for tax purposes that is quite adequate for working out my tax. My job is to see to the Base Cost. This I do and print out the Contract Note and file it.
When you stop "trading" your stocks and Change your Intention to Investing, you have to deem your stocks as 'sold" and pay the tax at market value whether you sold or not.
I fortunately sold off my whole portfolio before some bad news and bought back in afterwards. Since then, I have not sold or added to them and consider them as Investment Stocks since then. I now have just over a year to go for the 3 year thingy to Upgrade to CGT.
Post getting too long for attention span. Part 2 coming.
When you stop "trading" your stocks and Change your Intention to Investing, you have to deem your stocks as 'sold" and pay the tax at market value whether you sold or not.
I fortunately sold off my whole portfolio before some bad news and bought back in afterwards. Since then, I have not sold or added to them and consider them as Investment Stocks since then. I now have just over a year to go for the 3 year thingy to Upgrade to CGT.
Post getting too long for attention span. Part 2 coming.
1743
Shares / Re: Oceana Group Ltd
« on: December 09, 2013, 01:29:04 pm »
Support still holding since the last post on the 4th.
1744
A new problem. I have held my shares for 2 years and intend to go for the 3 year thingy. When I bought my stocks, I used the Weighted Average method.
Now after 2 years, I want to add a substantial amount to these same stocks and will apply the same Weighted Average Method for the base cost.
Will my 3 year thingy start all over again? Obviously I cannot change to FIFO now as I have been using W A for years.
Now after 2 years, I want to add a substantial amount to these same stocks and will apply the same Weighted Average Method for the base cost.
Will my 3 year thingy start all over again? Obviously I cannot change to FIFO now as I have been using W A for years.
1745
Shares / Re: Metair. Titan or Titanic?
« on: December 08, 2013, 06:48:36 pm »
Just noticed a problem. She left a gap at 3580. MTA is not a trading stock as such but if traders are there, they might just force the price down to close this gap. ie, They go short (sell) until it reaches 3580 and then close their shorts (buy) and it goes back up again.
1746
Shares / Re: Metair. Titan or Titanic?
« on: December 07, 2013, 06:27:33 pm »
They have managed to seal the deal and bought all outstanding shares. This acquisition is now costing R2.27B (or was it 2.7) and will surely hurt their results for next year but investors will see the future value and stick it out to reap the rewards later.
Coronation acquired 5.36% of Metair off market for Kagiso. They had to do it off market as there were not enough shares available at market. You can rest assured that Coronation as the best Fund Managers out will have made their sums with the due diligence before the acquisition.
This is a medium to long term winner. The only stock that I would buy and chuck in the bottom draw and not worry about it.
Coronation acquired 5.36% of Metair off market for Kagiso. They had to do it off market as there were not enough shares available at market. You can rest assured that Coronation as the best Fund Managers out will have made their sums with the due diligence before the acquisition.
This is a medium to long term winner. The only stock that I would buy and chuck in the bottom draw and not worry about it.
1749
The Investor Challenge / Re: investor challenge
« on: December 06, 2013, 08:08:22 pm »
Reminds me of when I was trading FX. Could only do so after work when I was having some cold ones that gave me courage to place orders. The next afternoon I would see stuff that I forgot to close and never remembered opening them. Had to leave them to run for months to get back into profit.
Needless to say, I lost R130K after a margin call.
Needless to say, I lost R130K after a margin call.
1750
The Investor Challenge / Re: What made you buy what you bought
« on: December 06, 2013, 07:58:49 pm »
I'm married so don't get that stuff.
1751
Shares / Re: Naspers (NPN)
« on: December 06, 2013, 06:09:42 pm »
Geez. That was a quick fill today and then back up again.
1752
Shares / Re: Today's Outlook
« on: December 06, 2013, 05:21:00 pm »
US up almost 1% with this news. Some economists said that the markets will dip on good news as the Fed will stop or cut down the stimulus sooner. Seems to me that the markets don't actually care if the stimulus is stopped as thing normalize.
1753
Shares / Re: Naspers (NPN)
« on: December 06, 2013, 11:09:57 am »
Back down pal. Left a gap that has to be filled. Three days ago she went down to fill that other gap.
1754
I have one problem with Seed's method. Obviously the larger your portfolio value, the less you score. Now if you have a R100K portfolio and do as they say then at some point SARS will not tax you at CGT but Revenue. The 3 year term will catch up very quickly if you are using the FIFO method. Obviously you cannot use the weighted ave for this.
I emailed them as to this and waiting for a reply.
I emailed them as to this and waiting for a reply.
1755
Shares / Re: Oceana Group Ltd
« on: December 04, 2013, 06:57:43 pm »
Dropped well below the 200ma and shorts opened sending it lower big time. Longs closed their positions. Here is the support level that I see.