I get debunked here and not on ShareChat. Now you will go check I suppose. Please do so but not from years ago as my investment method is now accepted by them as I have proved that it works.
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Question of the Day: Do you think Bafana Bafana will win tonight?
Past performance good indicator for future performance?
- Thread starter marco
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Ok DJ. I retract my retractment. What does "fsck" mean?
Maybe I should start a blog. Have you seen how many views these threads have compared to others? We have a following here. Not for advice but for pure entertainment. I know this as most of my PM's have been to urge me to carry on posting and dissing DJ's puppets.
Impossible alf. The gains are regarded as income and gets added to normal income and taxed together. Now remember that I had a tax loss for 3.5 years after the crash and this loss is carried over into the following years.
Alf. CGT is not as high as you may think. Here is an estimate had I been taxed for capital gain:
Base cost is R1.5m. Sold for R1.95m after 6 months. Gain will be R450k.
R450k less exclusion of R30k is R420k
33.3% of this will be R140k +-
Added to year end taxable income and you fall into the 35% bracket then the tax will be R49k +-
So the effective tax on R450k will be 10.9%
Not much don't you think?
Plus as I will have sell all again this year, I will have the benefit of a higher base cost and not much income.
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Glad you found nothing wrong with my calculation DJ.
Actually I did but I've given up on posting anything constructive in response to your posts as you either don't understand them or refuse to accept them. To quote Kansas, carry on my wayward son...
Can you please be constructive this time and correct it. I got this from SARS.
What's the point? You ignore everyone, all of the time. You fscking know everything apparently.
Besides, you claim to have been "trading" for 15 years. LOL. Fscking LOL. One would think that you'd have submitted your fair share of tax returns.
Regardless. Your lies have caught up with you now. Nobody believes a thing you post...
Very difficult to calculate as I withdrew some and invested more as well.
You must also realise that most investors cash in at some stage of their lives to perhaps buy a home or a pension or whatever and be subject to CGT.
If you held your investment for 10 years and sold now, you would pay 33.3% CGT from your base cost 10 years ago.
It does not make much diffs if you sell after 5 years and reinvest again for another 5 years and sell again as your base cost will be from 5 years ago and not from 10.
If you have an investment of a few million, you might actually end up paying less tax overall by selling and reinvesting as I did due to the fact that our CGT is lower than most countries and WILL increase.
I am by no means advising selling. The only reason I sold was if Greece had defaulted and became the catalyst for the demise of the Euro, I would have made a massive loss. I wrote off my expense as insurance fees albeit a small fee.
Please correct me if you think I am wrong but explain why. Don't as usual only say " He is lying".
ToxicBunny
Oi! Leave me out of this...
Wahahahaha... marco, that is the funniest and stupidest crap I've seen you post yet..
Selling and reinvesting and minimising tax..... brilliant. Must let SARS know about that loophole.
Selling and reinvesting and minimising tax..... brilliant. Must let SARS know about that loophole.
Sell and reinvest to minimise your tax. Pissed myself...
Nice pick of yourself DJ.
When did I say that? Read the whole post. I did not advocate that as a method to save on tax. That would be stupid as there are other things to look at such as gains lost from the CGT you paid after 5 years into the next 5 years. The possibility of a future loss, inflation etc.
That post was to explain to alf that selling my holdings prior to the Greek vote did not affect my tax as much as he has been saying.
My reply to DJ applies to you too. Can you guys not read properly or are smoking silly cigarettes?
ToxicBunny
Oi! Leave me out of this...
This is the good schit...
You mean the stuff you smoking?
Pravin did state that CGT will increase again to bring it in line with overseas countries. What you state in my quote is out of context of the whole post.
So, I repeat. Selling off my portfolio last June was not a train crash tax wise as alf believes. It is not a tax SAVING method as there are too many variables involved as I have already explained.
Now stop dissecting my posts and commenting on parts of it without taking the crux of the whole post into consideration.
Oh fsck off now. You've just been caught posting bullschit again. Pulling the ANC-out-of-context card is not gonna help you. The point you were trying to make was quite clear.
God, I'd love to sit around a braai with you and have you start talking this heap of schit in person, just so that you can fully appreciate the hysterical laughing properly...