Author Topic: SAtrixindi  (Read 42507 times)

Orca

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Re: SAtrixindi
« Reply #30 on: August 07, 2013, 06:09:11 pm »
Delusion, if you go with Imara stockbrokers for investing, they are great. Been with them since 2007.
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Aragorn

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Re: SAtrixindi
« Reply #31 on: August 08, 2013, 09:13:54 am »

Aragorn-So all I have to do now to make my money in my family members account legal and avoid any penalties and fee is to get the family member to declare the money to the South African Reserve Bank?If so,how do I go about starting this process for the family member in question to complete?


Hi Delusion
The money that you had transfered to your family members account would already have been declared to the SARB by them (or their bankers). Generally, banks don't release the funds to the account until the declaration is made, and is usually done by phone call anyway. See also my PM sent.
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Delusionsofgrandeur

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Re: SAtrixindi
« Reply #32 on: August 08, 2013, 11:31:05 am »

Aragorn-So all I have to do now to make my money in my family members account legal and avoid any penalties and fee is to get the family member to declare the money to the South African Reserve Bank?If so,how do I go about starting this process for the family member in question to complete?


Hi Delusion
The money that you had transfered to your family members account would already have been declared to the SARB by them (or their bankers). Generally, banks don't release the funds to the account until the declaration is made, and is usually done by phone call anyway. See also my PM sent.

Hello.Apparently my family member did this already.The first time he had to go into the bank for them to show him how to do it.Afterwards he did it online.He said the money was received as a gift.How much tax was he charged?How much is donations tax and is there a way to avoid/re-claim it in the future?



Aragorn

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Re: SAtrixindi
« Reply #33 on: August 12, 2013, 08:46:12 am »

Hello.Apparently my family member did this already.The first time he had to go into the bank for them to show him how to do it.Afterwards he did it online.He said the money was received as a gift.How much tax was he charged?How much is donations tax and is there a way to avoid/re-claim it in the future?

Hi Delusion
I'm not a tax expert, but no tax would have been charged on the transfer to the account. I have no idea if anything needs to be declared to SARS at the year end, but I have never encountered any discussion or comment of this nature. In my opinion, no liability for tax will exist based on the 'gift' declaration.
But work on getting your own account sorted in the mean time.
Not idly do the leaves of Lorien fall.

Orca

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Re: SAtrixindi
« Reply #34 on: September 02, 2013, 10:37:57 am »
My daughter wants to start investing in STXIND with monthly payments of R1500.00. Investing via the Satrix website is not ideal as they purchase the shares upon receiving the money and she wants to try buying in dips and not peaks or just before market moving news.
My brokers require a minimum of R20k to start and I assume most do.
How would you recommend she do it. She is with FNB.


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franz

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Re: SAtrixindi
« Reply #35 on: September 02, 2013, 11:33:24 am »
Orca, if you invest a small amount monthly by debit order then Satrix itself is your best bet. I am with BoE and don't think there is a minimum amount but the charges are way too high for such a small contribution.
I have a Satrix debit order running for my wife with a fixed monthly amount now for over 2 years and is doing very well so would not worry to much about buying high as you also buy low and the share is not that volatile.
Just my thoughts

Orca

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Re: SAtrixindi
« Reply #36 on: September 02, 2013, 12:13:17 pm »
Thanks Franz. I suppose that will be the best option. I see on the Satrix website that they have decreased the fees to 0.35%pa on the low scale and 0.65% for over R1M. Not bad at all.
I started here with nothing and still have most of it left.

gcr

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Re: SAtrixindi
« Reply #37 on: September 02, 2013, 01:17:51 pm »
Thanks Franz. I suppose that will be the best option. I see on the Satrix website that they have decreased the fees to 0.35%pa on the low scale and 0.65% for over R1M. Not bad at all.
Orca - why would they have a higher fee for sums over 1 bar seems ridiculous :wall:
Not everything that counts, can be counted, and, not everything that can be counted counts - Albert Einstein

Orca

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Re: SAtrixindi
« Reply #38 on: September 02, 2013, 01:42:35 pm »
Thanks Franz. I suppose that will be the best option. I see on the Satrix website that they have decreased the fees to 0.35%pa on the low scale and 0.65% for over R1M. Not bad at all.
Orca - why would they have a higher fee for sums over 1 bar seems ridiculous :wall:
Sorry. It is the other way round.
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Patrick

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Re: SAtrixindi
« Reply #39 on: September 02, 2013, 02:25:12 pm »

Orca

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Re: SAtrixindi
« Reply #40 on: September 02, 2013, 03:42:56 pm »
Thanks Patrick. I'll mull over that link tonight. :TU:
I started here with nothing and still have most of it left.

yozzi

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Re: SAtrixindi
« Reply #41 on: September 03, 2013, 10:18:11 am »
I'm about to invest a large amount in the Indi this week but what is the downside, if any, of investing in this type of etf? Would you also implement a stop/loss?

Delusionsofgrandeur

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Re: SAtrixindi
« Reply #42 on: September 03, 2013, 10:19:12 am »
The rand has dropped a heck of alot since I sent my money home.Needless to say I lost allot of money(relatively) since the economy tanked.Will it be better to wait till the rand strengthens before I invest in The Indi?Or does it not matter when I start investing.

Orca

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Re: SAtrixindi
« Reply #43 on: September 03, 2013, 02:51:16 pm »
I can't think of any downside apart from a market crash. yozzi. I won't use a stop loss purely due to down spikes that lasts minutes before retracting back up. Called stop loss grabbers. These are more prevalent in volatile markets like now.

Delusion, your money is here already so you may as well start now. As soon as the strike season is over, we might see the ZAR back at around 9.8.
I started here with nothing and still have most of it left.

Orca

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Re: SAtrixindi
« Reply #44 on: September 03, 2013, 03:06:24 pm »
I have been comparing STXIND, STXRAF and STX40 against each other and don't really see a diffs.
On the yearly chart, the first 6 months they performed equally and the next 3, the Indi made some higher gains to get into the lead. Then the last 3 months they did equally well.
So in 1 year the Indi only made gains higher than the other 2 over a period of 3 months.
Makes me wonder if the performance of the 3 will be equal going forward.
I started here with nothing and still have most of it left.