Recent content by Comrade Alex

  1. Comrade Alex

    All Bitcoin transfers out of South Africa is a crime, even from your own wallet - Reserve Bank

    @Snyper564 What about using Standard Bank's Shyft app? If I understand it correctly, this shouldn't be a problem because when you buy $ (or euros or pounds) you are prompted to acknowledge on the app that the transaction falls within your SDA limit. When the $ are then bought, you have...
  2. Comrade Alex

    How to invest in Vanguard (from SA) when not a US citizen or resident?

    Interactive Brokers still accept South African accounts.
  3. Comrade Alex

    Anyone tried MTN Signature Prepaid Bundles?

    Good morning all I realise this is an old thread, do MTN still offer these Signature Bundles? I'm strongly considering moving from Telkom to this prepaid MTN & Afrihost combo. I don't do voice calls that often, but when I do, I need a reliable network and MTN seems to offer that (Telkom has...
  4. Comrade Alex

    How to invest in Vanguard (from SA) when not a US citizen or resident?

    Option 1 I'd highly recommend a Wise (formerly TransferWise) account because it gives you US bank details that you can use to withdraw via ACH that does not incur a fee. Once the funds are with Wise, you convert it to ZAR at a 0.69% conversion fee and can then send it to a South African bank...
  5. Comrade Alex

    Crypto earnings & Capital Gains Tax

    I see your point as SARS will most likely ring-fence any crypto losses to the crypto trading activity itself. Ring-fencing is another can of worms I'm not too keen on delving into now. Considering the administrative burden of maintaining documentation and the tax consequences, I'll just be...
  6. Comrade Alex

    Crypto earnings & Capital Gains Tax

    I'd warn against this unless you can substantiate the private company's existence with a legitimate business reason (i.e. to hire employees, obtain funding etc. for a crypto business). The reason for this is that SARS can "pierce the corporate veil" if they suspect an individual operated a...
  7. Comrade Alex

    Cheapest way to get transact on Binance & the most Lucrative way to withdraw ZAR?

    It seems that a significant amount 2-3% goes to the spread when trading crypto paired with ZAR (via Luno, Binance and VALR). This is most likely because it is a less liquid market, USD pairs should offer better liquidity. I therefore propose making use of Standard Bank's GetShyft app. This is a...
  8. Comrade Alex

    How do I import a graphics card from the USA?

    Yup, no customs duties for pc components according to me as well. Just remember that you first increase the value (i.e. $400) with 10% and then calculate VAT on that amount. So a $500 card would be VAT inclusive at $582.5 [500 + (500 x 1.1 x 0.15)]. The same would apply to the service fee.
  9. Comrade Alex

    Starting an accounting degree

    I currently just completed my 3rd year of BAcc and can confirm that we are only allowed IFRS, ISA and tax legislation. We're not allowed to make any writings but highlighting and flagging is allowed. To be honest though, save for tax, I only find the standards useful when I need to provide a...
  10. Comrade Alex

    How to invest in Vanguard (from SA) when not a US citizen or resident?

    It's not really that much of a screw up except that it's just quicker (and cheaper by like $1) to immediately use Shyft's virtual card as a payment method via Transferwise with your TD Ameritrade account as beneficiary. Essentially you are saving on an unnecessary transaction. i.e. On...
  11. Comrade Alex

    How to invest in Vanguard (from SA) when not a US citizen or resident?

    Yup, I will definitely keep an eye on that. I just sent about $150 as a test run. In future, I'll rather build up a more significant sum (anything higher than $1400 keeps the SWIFT fee below 1%). I must say, the investing & banking world is not friendly to those with small amounts. Hopefully...
  12. Comrade Alex

    Offshore stock investment

    Is it only US banks that accept ACH or are there some local banks as well? Also, do you know at which rate the dollars are converted? I noticed Capitec charges a flat R130.00 for an incoming international payment in foreign currency. But I can't seem to find information on what conversion rate...
  13. Comrade Alex

    How to invest in Vanguard (from SA) when not a US citizen or resident?

    Thanks for sharing this! This is much cheaper than using Shyft's $14 charge. I did this myself yesterday, except I screwed it up a little bit by first adding USD to my account balance (on Transferwise) and then making the transfer to my TD Ameritrade account - instead of immediately sending the...
  14. Comrade Alex

    NVIDIA GeForce RTX 30 Series | Official Launch Event

    Lol, [(100% + 10%) x 15%] vs [(110%) x 15%] - potato, potatoe. Unless you're stating that it should not be converted to Rands. In that case I'm not sure at which exchange rate SARS converts the value - I simply used R17 for illustrative purposes.
  15. Comrade Alex

    NVIDIA GeForce RTX 30 Series | Official Launch Event

    Minor correction. Remember for VAT purposes the "value" (actually called "customs value" for import purposes) of the product you are importing is increased with 10% before applying 15% VAT - E.g. VAT = $1499 x 17 x 1.1 x 0.15 = R4205. So the total value is a little bit more. But I agree with...
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