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R100k to invest looking for a quick return
- Thread starter Dubai
- Start date
What do you do?
Progenix Oj101
Dealer
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- Jun 4, 2010
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Well interest technically is profit?
If interest < inflation rate, then no.
It can be done but at what risk? What assurances can you give the investor in regards to the capital?
It's a high-risk investment. There are no assurances.
He has this contact that wants to transfer a few million from Nigeria, and will give you 10% guaranteed, but needs a few bucks up front for administration costs.
Progenix Oj101
Dealer
- Joined
- Jun 4, 2010
- Messages
- 4,953
I am the contact in Nigeria. Cut out Slab and deal with me directly, it works out better for you. He was going to take a cut of the initial investment as well as the payout. Wire R40,000 to me and in one week you will have R200,000.
Eh? Interest income isn't Captial Gains, and you get taxed on it like any other source of income once you exceed the exempt amount.