1771
Shares / Re: Gold & Gold Shares
« on: November 26, 2013, 05:57:58 pm »
ja nee DEB. The never ending story of Resources and Commodities. That is why they are for short term trading only.
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1773
Off topic / Re: retiring early
« on: November 25, 2013, 12:06:34 pm »
Sorry. Been out fishing for awhile. I can see why OCE has not been doing too well. No bleeding fish in the sea.
I'm not yet 60 so can't get pensioners discount.
Nios. I have CML, PNC, MTA and OMN in my portfolio. As much as I would like to sell CML now, I can't. Last bought it at 24.70 and it is about 75% of my portfolio. Price is now 81.30 and the gains will be taxed as income.
My plan is to sell the day I leave SA and buy the Indi. That way, I will only pay CGT as Exit Tax.
I'm not yet 60 so can't get pensioners discount.
Nios. I have CML, PNC, MTA and OMN in my portfolio. As much as I would like to sell CML now, I can't. Last bought it at 24.70 and it is about 75% of my portfolio. Price is now 81.30 and the gains will be taxed as income.
My plan is to sell the day I leave SA and buy the Indi. That way, I will only pay CGT as Exit Tax.
1774
The Investor Challenge / Re: investor challenge
« on: November 22, 2013, 01:33:27 pm »
Just answer this Griffin. Would you invest your grandparents money into penny stocks? Realy? I doubt you would.
1775
Shares / Re: Pulverized Sand Box
« on: November 22, 2013, 01:27:13 pm »
wonder who is having a good week.
1776
Saw that jaDEB. No sweat as their Turkish acquisition cost them big bucks. They paid no divies due to this plus they negotiated with Coronation for a large off market share purchase which has been concluded.
Their new battery plant will only come on line in a month and a half so I never expected anything from MTA until next years FY results. I still maintain my call for stock of the year for 2015.
Their new battery plant will only come on line in a month and a half so I never expected anything from MTA until next years FY results. I still maintain my call for stock of the year for 2015.
1777
Off topic / Re: E-Cigarettes
« on: November 20, 2013, 08:32:05 pm »
www.ecigssa.co.za
Check out this forum. You will be blown away at how e cigs has grown. Not only locally but throughout the world. I'm loving vaping. No more stinky cigarettes for me. This becomes a hobby as you will read on the forum. The best and easiest way to stop smoking AND have a hobby at the same time other than stocks. The smokers out there will not be disappointed. Believe you me.
Smoke free for 30 months without even trying.
Check out this forum. You will be blown away at how e cigs has grown. Not only locally but throughout the world. I'm loving vaping. No more stinky cigarettes for me. This becomes a hobby as you will read on the forum. The best and easiest way to stop smoking AND have a hobby at the same time other than stocks. The smokers out there will not be disappointed. Believe you me.
Smoke free for 30 months without even trying.
1778
Off topic / Re: retiring early
« on: November 20, 2013, 08:18:31 pm »
After 2 weeks so good. Massive CML divi next month after PNC so no tax for the next 3 months withdrawals. 
No more alarm clocks
What a pleasure. Wake up when I want to and keep forgetting the day of the week. Days mean nothing.
My biggest problem now will be timing the monthly withdrawals. Now where is my fishing rod?
No more alarm clocks What a pleasure. Wake up when I want to and keep forgetting the day of the week. Days mean nothing.
My biggest problem now will be timing the monthly withdrawals. Now where is my fishing rod?
1779
Off topic / Re: Forum member Orca
« on: November 20, 2013, 02:06:04 pm »
Yip. That's me and my 4 stocks.
1782
Shares / Re: All things ZA economic outlook
« on: November 18, 2013, 06:50:51 pm »Just for fun, here's the South Korea top50 and the JSE top 40 for the last 10 years, JSE is in black:
Wonder if that is the exchange rate or the Emerging Market thing. Perhaps a chart of the 2 currencies will tell?
1783
Write this down Delusional. When filling in your tax for your trades if you did actually do some trading in any of your portfolios. It works exactly the same as any small business.
Cost of Sales = Opening Stock at cost + Purchases less Closing Stock at cost.
Gain/Loss = Sales less Cost of Sales.
All this will be on your year end Holdings Analysis sent to you except that you need to work out the Opening Stock Cost ie, the weighted average cost that I told you about.
Your long term stocks will not have any effect as they will open at year start and close at year end at the same cost price.
From the Gain/Loss, you can deduct internet costs and wear and tear of you maid and stuff.
Cost of Sales = Opening Stock at cost + Purchases less Closing Stock at cost.
Gain/Loss = Sales less Cost of Sales.
All this will be on your year end Holdings Analysis sent to you except that you need to work out the Opening Stock Cost ie, the weighted average cost that I told you about.
Your long term stocks will not have any effect as they will open at year start and close at year end at the same cost price.
From the Gain/Loss, you can deduct internet costs and wear and tear of you maid and stuff.
1784
Perhaps this will help. If you read up on Google, you will come across sites that state that it is up to you to prove your intention to SARS and once SARS deems you a trader, they will keep taxing you as a trader even after 30 years.
Those are old websites and articles. Only read stuff from SARS website as it has the latest documents and acts.
The 3 year rule has been signed and added to the act.
Even if you have 1 portfolio with 1 three year old share and 100 trading stocks in that same portfolio, that 1 share will be taxed at CGT if you sell it. The others will be taxed as revenue.
Stick to your main aim. Two portfolios. One for long term and one for trading. So what if you sell one or two stocks in your long term before the 3 years are up. You simply add the gains to your trading account gains.
Those are old websites and articles. Only read stuff from SARS website as it has the latest documents and acts.
The 3 year rule has been signed and added to the act.
Even if you have 1 portfolio with 1 three year old share and 100 trading stocks in that same portfolio, that 1 share will be taxed at CGT if you sell it. The others will be taxed as revenue.
Stick to your main aim. Two portfolios. One for long term and one for trading. So what if you sell one or two stocks in your long term before the 3 years are up. You simply add the gains to your trading account gains.
1785
As long as you keep records of purchses and sales. Keep a file for each tax year. Calculate the average base cost (use the Due By You as it includes the costs) and keep it as Open Stock in the first page of your file.
Most important is for you to keep track of the date and cost of your shares.
Once any share in your portfolio reaches 3 years and 1 day old SARS is obliged to treat it as CGT if you sell any portion of it.
Most important is for you to keep track of the date and cost of your shares.
Once any share in your portfolio reaches 3 years and 1 day old SARS is obliged to treat it as CGT if you sell any portion of it.