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Messages - Orca

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661
Off topic / Re: Can you predict the Zexit?
« on: April 01, 2016, 02:00:21 pm »
Quote from: MoneyChief on April 01, 2016, 09:02:38 am
I am a bit unclear about something. He took money that was not his and a court has now ruled that he has to pay it back. Isn't it actually theft? Why is he not being sentenced?  ???
Graft has a minimum sentence of 15 years and as to theft.....I don't think they will pursue that as it will affect the economy severely. It will involve the Dept of Public Works, the Dept of Finance and many individuals such as procurement officers, tender officers etc. Not enough beds in the prisons.

662
Off topic / Re: Can you predict the Zexit?
« on: March 31, 2016, 09:30:42 pm »
If JZ gets impeached, he will loose his state pension and his security at his citadel.
He knows that this is possible and may step down instead to avoid that but he may hang on for his pals to pay for the Nkandla non security improvements.
One problem with that. If his pals donate him the money, then he has to pay a further 40% odd extra as donations tax. :LHST:

At this moment he is one scared president. He knows now that he cannot make any changes to ministerial portfolios and the NEC also knows this after the Concourt ruling where they were themselves rapped on the knuckles.
So in effect, JZ has of now no power and his pals will distance themselves from him. He is on his own now. Left to his own demise. Good riddance JZ and go herd your cows until the can of worms opens further as it will.
 

663
Off topic / Live chat
« on: March 31, 2016, 06:24:47 pm »
@P. Check my post on the Tax thread.

664
Shares / Re: Tax
« on: March 31, 2016, 06:23:59 pm »
I would just like to clear up a tax matter that was brought up here today.

If I trade stocks on the JSE here from Portugal then the source would be Portugal and I will pay tax in Portugal only.
Many companies trade in SA but have their headquarters and offices overseas. They will be exempt from SA tax as they apply their time and wit overseas for the income.

If I had a micro internet business here in Portugal and am an affiliate for Herbal Life SA, I can sell to SA clients without incurring tax liabilities in SA.

Case Study:
CIR v Black.
The appellant, a South African resident carried on a business of dealing in FX. Although he deposited the funds in the USA with the brokerage through which he conducted his activities, the court held that he exercised his wits and labour in SA and therefor it was in SA that he conducted his business.

My post in the "Shout Box" that I should be exempt was tongue in cheek.


665
Off topic / Re: Live chat
« on: March 31, 2016, 01:04:45 pm »
@P. Don't forget that I am Non SA Resident so I pay no tax or VAT.  :)

666
Off topic / Re: Live chat
« on: March 30, 2016, 10:31:32 pm »
SA will not become a Zumbabwe. He has become too much of an embarrassment for the ANC and they will have to let him go after he pays for his floor mats and all.

667
Shares / Re: CoreShares Dividend Aristocrats ETF/S&P SA Dividends Aristocrat
« on: March 30, 2016, 06:29:35 pm »
DIVTRX up by 3.04% today and still thundering ahead of the DBX's by 19% this year. Dividends will be paid in a week or so. :TU:

668
Off topic / Re: Live chat
« on: March 30, 2016, 05:31:14 pm »
Glad I did not take a gamble on the ZAR dropping and flee to USD. ZAR gained 2% and my portfolio by 2,8% today. This is a double whammy for me.  ;D

669
Off topic / Live chat
« on: March 24, 2016, 10:33:39 am »
Losses are in line with EM. Not SA problems.

670
Shares / Re: Is buying a house in South Africa a good long term investment?
« on: March 22, 2016, 02:21:36 pm »
Quote from: conradl on March 22, 2016, 12:14:35 pm
Rentals that can be fetched in JHB is significantly higher than CPT, especially if you work in Sandton and want to live in the surrounds...
The fact remains that your rent will be 8 to 10% of the VALUE of the property.
You can rent a single garage in Clifton for R12k pm or buy one for R2m  to R4m.

671
Shares / Re: Is buying a house in South Africa a good long term investment?
« on: March 22, 2016, 11:52:10 am »
Quote from: conradl on March 22, 2016, 10:45:24 am
Explain to me where you save money renting?

Property Value: 550k
Repayment: appx R5000  @ 9.25%
Interest at the beginning (reducing over time): 4k
Rates, levies etc: R2k
Rent: 6k

So you rent a place worth 550k for argument sake at a rental R6k pm. You, as the tenant, cover my R4k interest and Ill gladly cover the capital component (R1k). The R2k goes to covering the rates and levies. And I get to write off the rental against tax (interest, levy, rates etc). So you are still paying someone else's bond, no matter how you slice and dice it. Buy it, pay it off as fast as possible. I've seen what renting does to younger people vs myself who bought at 25 and drove a Shiti Golf for almost 16years.

You are overstating the rent by far. Rent is typically 8 to 10% pa of the market price.
The flat I rented in Cape Town was worth R1.1m and I paid R5k pm. The one I now rent is worth R1.4m and I pay R6k pm.

672
Off topic / Live chat
« on: March 21, 2016, 10:09:27 pm »
Never seen the ZAR this volatile before as traders look for direction.

673
Shares / Re: Is buying a house in South Africa a good long term investment?
« on: March 20, 2016, 07:12:36 pm »
The majority of people that buy a primary property will live in it only. This is not investing for themselves but for their children who will sell the house at market value despite the fact that you paid double the amount in interest and upkeep.

This might be a different scenario as in my case.
I chose to invest my money and rent although I could have bought the property cash. This would have left me with no income whatsoever as I need to live off the investments.

I have now lived off my investments for over 3 years and despite the fact that I sent my 3 daughters to the UK and paid their rental deposits plus I relocated to Portugal and had to buy furnishings, laptops, medical aid and all the bling stuff, I am still R243K up from 3 years ago.

Had I bought property with the money, I could never have done this. I can now up and leave to where I want and have no ball and chain that comes with property.

674
Shares / Re: Is buying a house in South Africa a good long term investment?
« on: March 18, 2016, 03:21:20 pm »
Your primary residence is not an investment but a lifestyle expense.

675
Off topic / Re: Live chat
« on: March 17, 2016, 11:26:53 pm »
If Zuma keeps his job then this country will be a Mafia led country. The NEC knows this and as much as some of us dislike the ANC, they have some smart and educated people that will not allow this.
RIP Zuma.

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