You'll only owe tax if you sold or there was dividends.
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Easy Equities good or bad?
- Thread starter lagoaty
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Interest and Dividends | South African Revenue Service
To see tax rates from 2014/5, see the Archive – Tax Rates webpage.
www.sars.gov.za
now I don't feel so bad about ABSA Stockbrokers any more - I have 3 accounts with them and only got my tax statements for 2 of the accounts - they don't reply to emails - will give them a week and see if they reply to Hellopeter
mr_norris
Expert Member
I am much in the same boat. Tax certificates for most of my accounts with EE except for one. That one is holding me up. Logged a ticket last week, followed up this morning.
Their support and turnaround time is about the only negative with me.
zerocool2009
Honorary Master
They wont reply via Hellopeter either! Just tweet them, they are fast!!!!! (On that platform)
No. I want my statements to double check everything but I keep getting EE's oopsie screen.
You could still buy "local" ETF's (Sygnia, Coreshares, Satrix etc.) but only for foreign markets indexes (e.g. S&P 500).
Otherwise dump every cent into USD.
Answer this question: "What, in the next 5 to 10 years, will the ANC do that will result in South Africa prospering?"
Also, why only invest in 1% of the Global economy by investing in SA?
Also, you retirement fund isforced to invest 70% in SA, so why not diversify overseas with any discretionary amounts?
There are enuogh decent ETFs (like Vanguard) that individual stock selection isn't necessary.
But if you want to throw a few bucks on the latest meme stock, why not. I wouldn't make it the bulk of my portfolio though, because you can't trade it fast enough and it takes days to sell and settle.
cr@zydude
Honorary Master
I'd say always put the majority of your money into a big global ETF like MSCI World, S&P Gloabl 1200 or FTSE Total World.
Today I noticed that I can buy Easy Equities instruments using the balance in my Capitec account. Has anyone done this, and are there any extra fees for doing so?
I previously used to transfer from my Capitec account to Easy Equities and then buy using my Easy Equities balance. Buying straight from my Capitec account would speed things up.
mervman
Well-Known Member
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Be aware of some rule that any amount in excess of 60k dollars will attract estate duty of 45 percent in the United States. Unsure of exact number, just check it up.
deweyzeph
Honorary Master
Foreign dividends are taxed but as normal income.Interest and Dividends | South African Revenue Service
To see tax rates from 2014/5, see the Archive – Tax Rates webpage.
Foreign dividends usually already have tax withheld from them as well by the foreign country's tax authority, which you can then use as a tax credit against any tax that SARS charges you for those dividends.
mr_norris
Expert Member
I didn't bother moving from local to the US market, I just (almost) stopped investing into the local market. It's quite costly to sell, move money, and buy again. I just hold, and really, the SA ETF's I have are doing quite well. The rebound after the hard lockdown was amazing. The stock market didn't really have much of a dip after the riots, and it's since recovered from that. Yeah, it could happen again, and I'd eat me words, but I don't see the need to panic sell.
As for your question - I have both. ETF's are more of a safety net though. Eggs in one basket and everything. But it's not a safety net for complete market crashes. I choose individual stocks based on a mixture of what I like and terrible WSB advice. So far, my own picks have performed amazing - even after tanking after I bought. WSB picks though, not so good.
Biggest share, not majority of your money.
Yes.
Never noticed this before. Just tried it and it seems to work - same fees by the looks of it. And if you don't do an "immediate" buy it still takes 2 days to process. Just like if you were to transfer the money first. So looks like it's pretty much the same with the benefit of skipping the transfer step.