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1
Shares / SARS - foreign dividends conversion rate
« on: July 25, 2019, 03:57:59 pm »
Hi all

What average USDZAR rate do you use to convert your foreign dividends to ZAR for tax purposes?

For example:

If you are using the LSE:VWRD and received a dividend on 2019-04-10 of $100.00 what rate will you use, and why, to include the dividend on your tax return?

Options include:
1. Average rate for the year of assessment. (See SARS link Table A)
2. Monthly average exchange rate. (See SARS link, Table B)
3. Daily spot rate from SARB. (See SARB link.)

https://www.sars.gov.za/Legal/Legal-Publications/Pages/Average-Exchange-Rates.aspx

https://www.resbank.co.za/Research/Rates/Pages/SelectedHistoricalExchangeAndInterestRates.aspx


2
Shares / Nedgroup Investments Retirement Annuity
« on: July 10, 2019, 01:23:35 pm »
Does anybody know more about the Nedgroup Retirement Annuity platform?

They did not use to have a RA platform but based on the cost calculator this might be the cheapest RA around.

EAC of 0.57% using the Core Diversified Fund! That is cheaper than 10X and Allan Gray, the Allan Gray platform fee is very high if you don't have an Allan Gray fund.

https://nww.nedgroupinvestments.co.za/content/NGISingleSiteContent/Local/Individual-Investor/invest-with-us/help-me/fees-calculator.html

My only concern is that if their back office admin is as bad as their website I might wish I didn't move to them.


3
Shares / Replace individual shares with ETF's?
« on: December 02, 2015, 02:39:45 pm »
Hi everybody

As part of moving investments to low cost index funds I took over the portfolio that a "wealth manager" managed for me. The admin and brokerage costs were insane.

What should I do now?

1. Do I just keep it as is for the long term.
2. Sell specific shares and move to ETF's?
3. Sell all these individual shares and replace with ETF's? (I'll probably replace with DIXTRX and INDI as ETF alternatives.)


+------------------------------------+
|Symbol|Last price|Portfolio %|Gain %|
+------------------------------------+
|AGL   |8598,00   |2,39       |-69,83|
|BGA   |15740,00  |5,82       |5,91  |
|CCO   |9560,00   |8,84       |54,47 |
|CFR   |10803,00  |8,99       |3,46  |
|GLN   |2000,00   |1,85       |-69,60|
|ITU   |7016,00   |6,49       |31,53 |
|KIO   |4272,00   |0,79       |-87,72|
|MDC   |11030,00  |6,63       |43,64 |
|MMI   |2315,00   |6,42       |-11,44|
|MTN   |14817,00  |3,43       |-34,15|
|NPN   |210616,00 |9,74       |77,25 |
|NTC   |3443,00   |3,18       |-14,18|
|OML   |4512,00   |8,35       |22,68 |
|SAB   |87400,00  |8,08       |42,84 |
|SHF   |8550,00   |7,91       |17,45 |
|SOL   |40072,00  |5,56       |-27,46|
|WHL   |9955,00   |5,52       |23,68 |
+------------------------------------+

4
Shares / Managing your grandmothers money
« on: October 19, 2015, 08:59:48 am »
If your grandmother had 3mil in a bank money market account earning a meager 5.5% how would you invest it? Keep in mind that this is her sole income.

Any opinions on the following funds:

Prescient Income Provider Fund
Nedgroup Investments Flexible Income Fund

5
Shares / Satrix/EtfSa(AOS) IT/IB 3(b) - SARS source codes
« on: July 21, 2015, 10:27:30 am »
Hi everybody

I received my tax certificate from AOS but it does not include SARS source codes, does anybody know how to "decode" the breakdown provided by AOS?

Attached is a screenshot of their full breakdown, I'm unsure as to what codes to use for the following line items:

Other Foreign Income:

Foreign:
Foreign Taxed:

Foreign - Taxed (Dual Listed):

Local Dividend (as apposed to Local - already taxed):

I expect any dual listed divs to be exempt income, so no source code necessary. But what do I do with the Foreign Taxed category?



6
Shares / Satrix CSDP transfer, how to calculate base costs after transfer?
« on: March 13, 2015, 09:40:12 am »
In short, after a CDSP transfer from Satrix to normal stock broking account how do you calculate the “unit cost” and “cost value” for the consolidated position? (Details of all the underlying transactions are lost with the CSDP transfer.)

The long version:
I had my ETF’s transferred from the Satrix Investment Plan to my stock broking account. (The Satrix fees became expensive over the long term.) After the transfer my shares reflect a zero Unit Cost and Cost Value on my stock broking portfolio. This causes the Return to reflect as the current market value of the shares and the Return % shows as Infinity.

I now need to calculate the Unit Cost and Cost Value to have my online stock broker update the values accordingly.Satrix provides a client statement that details all the transactions, I can use these transactions to calculate a base cost fairly easily. (Getting 9 years of transactions from the PDF statement into Excel is another story…)

The problem is that Satrix sold small numbers of shares over the years to cover admin fees. I looked at old IT/IB 3(c) tax certificates to see how they calculated the net gain/loss on the sold shares. They have a column called “Weighted average value” but I cannot get this value to match the “weighted average unit cost” that I calculated based on the transactions in their Client Statement. (I calculated the weighted average unit cost as detailed here: http://www.sars.gov.za/TaxTypes/CGT/Pages/Base-Cost.aspx)

Any ideas?

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