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Topics - Orca

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46
Shares / Tax
« on: June 21, 2013, 06:17:33 pm »
Quote
Thread split from the investor challenge thread - Patrick

Now you pay tax on your gains as a Trader. Every cent that you gained will be added to any other income you have and be taxed accordingly.
Had you kept the stocks for 3 years, then only 25% of the gains will be added to your income and that is a BIG difference.

In this competition YOU are a fund manager and if you sell your clients stocks before the 3 year rule, they will be taxed as traders.

Moral of the story is: Pick long term stocks. Not trading stocks. This is after all an investment competition.

47
Shares / My biggest share boo boo.
« on: April 23, 2013, 07:14:04 pm »
I got very clever last week while I was investing in liquid stocks. I decided to place Alerts for my 3 stocks with SMS"s to my cellphone. The first 2 went ok I think. The liquid stocks must have kicked in with my PNC as the next morning my cell went off and continued going off with messages that stated "PNC sold at xxx". WTF I thought.  What's going on here. Grabbed my tablet and connected to my broker site. Eish. No internet due to thick mist. Phone goes off again and again. Grabbed it and phoned my broker and found out that I had a Sell instead of an Alert for PNC. Closed the Sell via my broker. R81K sold and I tried to keep to SARS 3 year thing.
Started buying back in again as it went lower and finished at a R250 loss.
 

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