Easy Equities good or bad?

Random question but hopefully someone here knows the answer. If you invest in S&P 500 via the USD account, are you liable for situs/inheritance tax in the US? It's a very high rate for non-residents, so wondering if it's rather better to invest via the ZAR account (although in the ZAR account you pay tax on $/R, while in USD account you don't).
 
zerocool2009 said:
Sadly they can break rules as they want.

Guess what, got a letter from my bank for my bond, rules are changing (and its a 20 year contract, they altered rules in year 9 now).

Its accept or move, as easy as that

At some stage you need to think is R1 to much asked? (To be deposited)
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Which bank?
 
zerocool2009 said:
Sadly they can break rules as they want.

Guess what, got a letter from my bank for my bond, rules are changing (and its a 20 year contract, they altered rules in year 9 now).

Its accept or move, as easy as that

At some stage you need to think is R1 to much asked? (To be deposited)
Click to expand...
Unfortunately we all just sit back and accept it.
**** EE and BANKS.
 
Roger Banana said:
Random question but hopefully someone here knows the answer. If you invest in S&P 500 via the USD account, are you liable for situs/inheritance tax in the US? It's a very high rate for non-residents, so wondering if it's rather better to invest via the ZAR account (although in the ZAR account you pay tax on $/R, while in USD account you don't).
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My understanding is the tax rules are based on where the ETF is domiciled. Which is why a lot of people purchase the Irish ETFs on foreign exchanges as the situs tax is beneficial for non-residents (you would still have the SA tax though).

e.g from here: https://www.nedbankprivatewealth.co...uth-africa/en/info/UK-US-situs-tax-guide.html

Note:
The location of the exchange(s) used by the ETF does not affect the situs of the fund.

For example: If the fund (entity) issuing the ETF is incorporated in Ireland and the ETF invests on a stock exchange in the US, the situs would be determined by the place of incorporation of the fund (entity) issuing the ETF, which in this case is Ireland.
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There are various ways to gain exposure to UK and US assets with a reduced tax liability


  • Obtain exposure to US and UK investment markets by investing in funds (CISs and/or ETFs) that are registered outside the UK and US.
    Nedgroup Investments, for example, offers investors CIS that are structured as Undertakings for Collective Investment in Transferable Securities (UCITS) and Irish-domiciled. As a result, investors can obtain exposure to US and UK situs assets via these funds without becoming liable for the inherent US and UK situs taxes.
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According to EE's email they don't charge you if:
Accounts exempt from the Thrive fee:

  1. Fully funded TFSA account
  2. RA accounts
  3. EasyProperties
  4. Clients under the age of 21
  5. Clients over the age of 65
  6. Corporate accounts (business accounts) are exempt from Thrive.
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So if you've got a TFSA spread across 2 providers it looks like they can charge you if you haven't paid in.

My problem is, I was fully thrived, and even if I wasn't there were funds they could've pulled from my main EE account that I hadn't allocated yet.
Why aim straight for my TFSA account?
Does this count towards my TFSA limits or is it part of the service provider's fees?

Which alternative platform has similar TFSA investments as EE?
 
sandwitch said:
According to EE's email they don't charge you if:

So if you've got a TFSA spread across 2 providers it looks like they can charge you if you haven't paid in.

My problem is, I was fully thrived, and even if I wasn't there were funds they could've pulled from my main EE account that I hadn't allocated yet.
Why aim straight for my TFSA account?
Does this count towards my TFSA limits or is it part of the service provider's fees?

Which alternative platform has similar TFSA investments as EE?
Click to expand...
What do you mean by "spread across 2 providers"?
 
sandwitch said:
Does anyone know why Easy Equities charged me a R25 platform fee on my TFSA while my main account is fully thrived and platform-fee free?
They put my TFSA net accrual into a negative balance.
Click to expand...

Look under your transactions…. Show a screenshot of the R25 charge.
 
sandwitch said:
According to EE's email they don't charge you if:

So if you've got a TFSA spread across 2 providers it looks like they can charge you if you haven't paid in.

My problem is, I was fully thrived, and even if I wasn't there were funds they could've pulled from my main EE account that I hadn't allocated yet.
Why aim straight for my TFSA account?
Does this count towards my TFSA limits or is it part of the service provider's fees?

Which alternative platform has similar TFSA investments as EE?
Click to expand...
Just move on over to Sygnia.
 
sandwitch said:
Does anyone know why Easy Equities charged me a R25 platform fee on my TFSA while my main account is fully thrived and platform-fee free?
They put my TFSA net accrual into a negative balance.
Click to expand...
I ain't surprised.

Some would have you believe if you follow EE on Twitter or "read the news" these kinds of things won't happen. :sneaky:

EE is shambolic, through and through.
sandwitch said:
Does this count towards my TFSA limits or is it part of the service provider's fees?
Click to expand...
I would hope they can do a backend fix. Eventually they will provide your figures to SARS and if it can be corrected before, then you're lucky.

Otherwise, yeah. R25 that you contributed toward your lifetime TFSA limit was used for EE monthly fees and you would have lost out on that.
 
Dylan_G said:
I ain't surprised.

Some would have you believe if you follow EE on Twitter or "read the news" these kinds of things won't happen. :sneaky:

EE is shambolic, through and through.

I would hope they can do a backend fix. Eventually they will provide your figures to SARS and if it can be corrected before, then you're lucky.

Otherwise, yeah. R25 that you contributed toward your lifetime TFSA limit was used for EE monthly fees and you would have lost out on that.
Click to expand...

In reality it aint working like that. I have a tfsa (unit trust), and the fees comes off dividends. The costs aint leaving the “product”. I could be wrong related to EE billing. I havent seen 1c in charges going off. Thats why I ask, post a screenshot
 
zerocool2009 said:
In reality it aint working like that. I have a tfsa (unit trust), and the fees comes off dividends. The costs aint leaving the “product”. I could be wrong related to EE billing. I havent seen 1c in charges going off. Thats why I ask, post a screenshot
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I agree, the fees are not reducing the R500k contribution
 
I aint paying zero fees with EE. My last post it related to all investments. Again, here we go again….

If you cant adapt on changes (then move).

Then the story again: but no email, no call … no communication bla bla bla

 
zerocool2009 said:
Look under your transactions…. Show a screenshot of the R25 charge.
Click to expand...
I took this from the front page and not the transactions - I don't have access right now. I'm hoping I read it incorrectly which is probable.
Speedster said:
What do you mean by "spread across 2 providers"?
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½ my TFSA is with Satrix and the other ½ with EE.
 

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sandwitch said:
I took this from the front page and not the transactions - I don't have access right now. I'm hoping I read it incorrectly which is probable.

½ my TFSA is with Satrix and the other ½ with EE.
Click to expand...

Ok. I had etf’s via Satrix, and they have a hidden platform fee. And I move it all to EE

The screenshot, is that via EE or Satrix?

Pull a satrix statement: you will see a monthly going fee.
 
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