Quote from: Orca on June 21, 2013, 06:17:33 pmNow 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.This is the only thing that kept me from offloading all my shares last week. Are you already classed as a trader tgg or have you held your shares for long enough not to be seen as a trader?As for the contest, next year you'd be able to decide whether you're a trader or investor.
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.
Patrick - if you are going to profile people as traders next year then you should apply tax criteria to those who wish to be treated as a trader. Also once you are treated as a trader you can't be treated as an investor at the drop of a hat - this principle applies when dealing with SARS as they want proof that you are no longer to be categorised as a traderHowever to ensure that the competition doesn't become stale maybe allow full/partial sale of part of ones portfolio (arbitrarily 40%) after holding the stock for 12 months, or if this is too difficult then set a window (say 2 weeks) when investors can sell a portion of their portfolio. Another alternative is to run 2 competitions one for investors and another for traders and people if they want can choose either/or or both
I take it you're grahamcr in the comp. In your public profile I see the counter name for ellies, could you post a screenshot showing your view.: http://www.investorchallenge.co.za/com_holdings_public.php?user_id=54I do add the dividends to the trading account, so you can spend them as you would your regular deposits
Press the print screen button. If you're on a laptop you might need to hold the fn key while doing that, then open paint or even ms word and press control V.Unfortunately I made the security a little too tight, so even I can't login as you to take a look!
Thanks Bundu, I'll correct it on the next email.Orca your prediction about CML not going higher seems to have been off. Consequently, other than one share wonders and the penny share fakers, you're currently the accepted leader...
I got the same email, how about we move tax to it's own thread.
Quote from: Patrick on July 01, 2013, 07:08:44 pmI got the same email, how about we move tax to it's own thread.good idea
Orca your prediction about CML not going higher seems to have been off. Consequently, other than one share wonders and the penny share fakers, you're currently the accepted leader...