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The stress has started once again. Moving countries twice in just over 4 years is taxing and the first one was severe enough.

We sold all our SA belongings to come to Portugal and had to re equip our home here only to sell it all again at rock bottom prices.

Finding movers was stressful as they charge from € 720 to € 2 000.00 for the same amount of stuff. We eventually found it cheaper to sell our appliances and not use Home Movers. Baggage Forwarding is so much cheaper at € 40 per 40 kg door to door. Not much more than baggage on flights but then it is not door to door and has a 23 to 30 kg weight restriction.

We are now packed for the pickup. No TV. No appliances so camping out here waiting for our flight out. Two weeks to go. Luckily we have not had winter this year so no heating is needed.
 

 

https://www.daytrading.com/taxes

The reason I mentioned this was because of that lucky lotto winner. As he is not a full time gambler he does not need to pay tax on his windfall.
If he does then all lotto players can book their losses to offset future winnings. This is the reason UK does not tax futures on margin. Most people loose and would book the losses.

All my mid caps are now small caps.  (me smoking a joint to be happy about it)

@XXXXX. I assume by the cryptic nature of your post that you are a tax adviser as they tend to not explain anything without payment and will not share information for free.

The paid for telephonic advice I received from a tax lawyer in Portugal was this:

I was ordinarily resident in the RSA for the previous 6 years without a break so that makes me domiciled in SA when the deemed sale of the securities took place. This reset the base cost on the day before exit.

When I left SA the deemed repurchase of the same securities took place at the same price. This new base cost will apply in my new country due to the fact that the deemed sale was done while I was ordinarily resident in SA. The DTA did not apply at the time.

The DTA rules came to effect when I arrived here and it clearly states that CGT on the sale of securities are only payable to the country of which the seller is resident. I was not ordinarily resident in Portugal when it took place so the tax is only payable to SARS and not Portugal.

Should the deemed sale not be accepted by Portugal then it will be an infringement of the DTA rules as I will be taxed twice when an actual sale takes place.

The opposite is also true according to SARS website. When an immigrant to SA takes up residency in SA then his securities will be reset to the value on the date of entry. It however does not state that this will happen if the exit tax was paid or not in his country.

 

 

STXIND was for many many years the best performing ETF on the market and was always the first to recover after a correction or a bear market.

For the past 5 years the SA market has been negative to flat and almost impossible to pick winners without a gamble. Investing in the INDI now may not be a good idea as industrials will be the hardest hit with the problems at ESKOM and even more so with winter looming.

Should ESKOM sort its maintenance problems out and the markets recover I would be the first to switch to the INDI. When the economy improves industrials will be the first to benefit and improve it will before 2020 and emerging markets like SA would be the place to be.

Here is the latest news from the Home Office in an email I subscribe to.
QUOTE:
This is the latest information on the EU Settlement Scheme for EU citizens in the UK. You are receiving this because you have requested email updates from the UK government.

The Secretary of State for Exiting the European Union today set out information for EU citizens and their family members in the UK in the event of a no deal exit from the EU.

The UK Government:

Confirms that if there is no deal, the EU Settlement Scheme will continue to be implemented, enabling EU citizens and their family members living in the UK by 29 March 2019 to secure their status and continue to be able to work, study, and access benefits and services in the UK on the same basis after we exit the EU as they do now. The scheme will be fully open by 30 March 2019 as planned.
 
Confirms that the Home Office will continue to look to grant status rather than refuse and in line with the UK commitment to be more generous in certain respects than the draft Withdrawal Agreement, a person will not be refused status under the EU Settlement Scheme because, for example, they are not economically active or they do not hold comprehensive sickness insurance.
There would be some changes to the EU Settlement Scheme if the UK leaves the EU without a deal, and further details are set out in the policy document.  In particular, as there will be no agreed implementation period, the application deadline will be brought forward to 31 December 2020.

You do not need to do anything for now. The EU Settlement Scheme will be fully open by 30 March 2019.

Further information about the scheme can be found on GOV.UK - END QUOTE.