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Messages - gcr

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151
Shares / Re: TFSA
« on: February 22, 2018, 12:14:06 am »
Easy Equities is part of the Purple Group - it also has a company GT247 which was a trading platform. When I went on retirement in 2005 I used to read a daily bulletin board (can't remember the name right now) and the people commenting on this board were all traders from around the globe - they operated in London, SA, Hong Kong, Canada, Australia, America. They absolutely castigated GT247 for poor administration, fouling up orders and unwarranted charges. Some were quite acerbic in their criticism of the company and its head honcho - Mark Barnes who is still chairman and is now the CEO of SAPO and has gone on record to say that he will fix this operation.
So given my knowledge and the history around GT247 I will never consider Easy Equities as a platform

My opinion 

152
Shares / Re: Mind engaging with a newbie broker?
« on: February 16, 2018, 07:48:01 pm »
Industry Guy - a question - in one of your paragraphs under the heading "do you think ETF are the answer" you advocate for older people the movement away from these instruments into "bonds and the like". My question is why would you advocate moving to bonds and presumably cash also falls into this category for people around 70 and older. It seems that financial planners also suffer under this apprehension. Surely the most appropriate approach would be to understand the clients income streams and then determine needs over x years of a normal lifespan. Once that is determined then a savvy advisor would then get a picture of income and needs and expenditure and create a model for the client. Have you ever done an example of this type of advise to a 70 year old person and then determined the difference in income by remaining in shares and or even ETF versus switching to "bonds and the like".
I always work on the principle "would this be what I would advise my own father to do if I was managing his investment portfolio". Another consideration is even if you client whom you advised to switch to bonds and the like still has a spouse how is she going to survive once the husband has departed as she undoubtedly will get 50% or less of the customers pension and will have to transfer the bonds and the like into her name and probably have to incur costs for this transfer (ETF would also incur costs).
Be interested to hear your views

153
Shares / Re: Selling your shares after 3 years.
« on: February 15, 2018, 09:13:29 pm »
Quote from: Orca on February 15, 2018, 08:31:10 pm
Always make your posts on tax short and simple. No doubt some readers will now include costs in their calculations just because you mentioned them.  :frustrated:

Should you have been trading like in selling your stocks before the 3 year holding period or even churning them and are unsure how to calculate your tax however complicated then ask here and I will post a simple method.
According to your answer one should be using the consideration value of the buy sell order, however you also refer to due by/to you which in both cases have costs added and/or subtracted - what's your point

154
Shares / Re: Selling your shares after 3 years.
« on: February 15, 2018, 01:58:07 pm »
Quote from: Orca on February 15, 2018, 10:04:37 am
Do not include the costs of buying and selling shares. Use only the "Due By You" and "Due To You" amounts as this incorporates the costs.
If it was 1 Buy transaction and you sell all after 3 years then it is simple. Deduct the former from the latter to get your Gain/Loss.
Then choose CGT in efiling and enter the amount. The programme will deduct the R40k exclusion and place 33.33% of the remainder to your income and tax it at your margin.
Ho hum - thought that's what I said but then I suppose we all like to express ourselves differently

155
Off topic / Re: Live chat
« on: February 14, 2018, 11:41:20 pm »
He's gone so good riddance - Zuma783 has resigned

156
Shares / Re: Paying Tax After Selling Shares
« on: February 14, 2018, 11:40:25 pm »
Quote from: rjthomas on February 14, 2018, 10:10:50 pm
I use Easy Equities as my broker. When selling shares, they deduct their fees and VAT. There's also " Securities transfer tax and administration" so my question is this. What other taxes do I have to pay SARS when I submit my personal income tax returns?
CGT on the difference between base cost (share price plus brokerage and other charges) and selling price less costs - its a % but there is an exclusion which I think is R 40,000

157
Off topic / Re: Live chat
« on: February 13, 2018, 06:26:09 pm »
Quote from: Patrick on February 13, 2018, 05:41:59 pm
Not a bad idea Hamster, let me see what I can do.
Don't use yellow that shows up when looking at ones own position on the leaderboard - maybe use puce or khaki :LHST:

158
Shares / Re: Selling your shares after 3 years.
« on: February 12, 2018, 09:14:24 pm »
Quote from: Orca on February 12, 2018, 09:02:40 pm
If he does not I will rap him on the knuckles.

Further to this. there is a common concept that if you buy a share and trade it then SARS will see you as a trader in shares for revenue like in forever.

Once you stop trading the share and hold it for 3 years then article 9C kicks in. You are no longer a trader.
That may be true regarding article 9c but my experience and conversations with other investors is that once categorized as a trader SARS very seldom let you off the hook and that you can revert to a investor category. Also in my discussions with them in 2008 when I sold a lot of my shares with the crash then notified me that they were going to treat me as a trader. In discussion with them I asked whether they would share my losses in those shares which I had not held for 3 years but bailed out to limit my losses and they were not prepared to come to the party - but they did not pursue the trader tag after the discussion, I also carried an assessed lost for about 4 years after that as well

159
Shares / Re: Selling your shares after 3 years.
« on: February 12, 2018, 09:07:33 pm »
My advise to the listener would have been sell a portion of the shares and then buy additional shares with the proceeds, all this does is bring a substantial profit gain and then neutralize the difference between original price and current price. This also helps when selling out as it will reduce your CGT bill as it's based on current prices versus purchase price, How SARS will pick this up I'm not sure as they only look at base price versus selling price. However you could come unstuck if the market takes a big knock

160
Shares / Re: Mind engaging with a newbie broker?
« on: February 12, 2018, 09:00:56 pm »
I'm a little confused - some have commented that they don't need a broker to manage their portfolio, whilst others question the costs around providing this service.
To my knowledge nobody can place and order to sell/or buy without being a customer of a broker company. There are a defined number of broker companies and the licenses are reviewed periodically.
So to say that you don't need a broker to manage your portfolio is merely a service offered by a broker company and has nothing to do with their platform allowing you access either directly or by agreed communication methods i.e. fax, e-mail, identified phone call
So in my mind what IndustryGuy is trying to deduce is whether there is a service need from the forumites for broker services

In answer to some of his questions for those who know very little about our market operations then maybe 1% is not too horrible if they deal with you as an individual and review your portfolio frequently (at least daily) give you pointers as to market trends, outside influencers, what's happening in foreign markets and other input which you can use to upskill your own knowledge. However for those that want to boost there wealth this becomes an interim measure until you feel confidant to go it alone. You can then cut the umbilical cord and place orders to buy and sell over their platform provided costs are not unrealistic. Also as your portfolio value grows you can always negotiate better rates on broker services and the cost of holding your portfolio   

161
Shares / Re: Selling your shares after 3 years.
« on: February 12, 2018, 06:41:20 pm »
I wonder if Simon will restate his answer

162
Off topic / Re: Live chat
« on: February 06, 2018, 09:15:27 am »
Yup and my portfolio down R 157,000  :'(

163
Off topic / Re: Live chat
« on: February 05, 2018, 08:57:48 pm »
Well the Alsi seems to the refrain Waltzing Matilda - on 25/1/2018 it got to an all time high of 61684.77 and today the closing index value was 57113.74 - a significant drop over a very short period of time

164
Off topic / Re: Live chat
« on: February 02, 2018, 12:31:27 pm »
Quote from: Moneypenny on February 02, 2018, 08:28:55 am
Yes I can tell you why… we had a super moon (perigee), blue moon, blood moon and total lunar eclipse all in one day.  😉
Well today there is no blood moon around but only 2 of my shareholdings (of 22) are showing the effects of the moon today seems like a real red Friday

165
Off topic / Re: Live chat
« on: January 31, 2018, 04:12:49 pm »
Quote from: Moneypenny on January 31, 2018, 02:41:11 pm
Its true gcr, traders trade on market trend and psychology whereas investors invest on value.  Traders go for high risk, high reward in the shortest period of time whereas investors prefer relatively lower risk in quality stocks over a long period of time.  Both have merit and both requires research, savvy and skill imo.  That’s why I find “The Challenge” invaluable. It’s trading/investing with training-wheels-on in a safe but real-life environment where you can test your own strategies, even if it means hanging out in the same pond with others who trade and/or invest. Oh, and did I mention it is free. Market makers give you two free weeks with virtual money and then you have to go live with real money and real risk.  To split it would be a nightmare I think, investing for 3-5 yrs is medium term investing, and if you really want to trade you’ll have to bring in geared options as well, talk about horrifying nightmare. Think it’s just a question of practically to be honest and I also think it serves its original purpose, (training/learning) with other like-minded individuals, with flying colors.  But you are right, trading will always win the battle in short term money making.  Come on gcr, come over to the dark side and trade with us, even if its only here on “The Challenge”.   Never too young to learn, never too old to change.  ;)
Miss Moneypenny - I don't trade (though I tried it years ago) went to all the lectures and seminars and decided that if I wanted to blow money then I would play the horses and or slot machines. So this competition will only be used to test the water on shares I am interested in buying down the road and only has a slight resemblance to my real share portfolio - though both the counters I have in the competition I already hold in my own portfolio

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