The LONMIN share price thread

[AchmatK]

And the difference is?

I am an investment noob

Net profit on speculative trading gets added to your income. CGT has some calculations to reduce the taxable income that gets added to taxable income.

 

[mintydroid]

There was a better explanation but I can't find it.

If you're in the 41% bracket prepare for butt hurt

 

[The_Ogre]

Ah, apologies @techhead. seems you're correct

 

[SauRoNZA]

I'm not sure he's correct, CGT is tax on money you get from selling an asset.

Income tax is tax you pay on your salary if an individual or money you get from your day to day business activities.

Shares are only considered CGT after 3 years.

Before that it's deemed speculation and therefore goes on normal tax rate.

Which is why I said earlier it is better if you keep it longer...but then typed low because I'm retarded.

 

[techead]

Ah, apologies @techhead. seems you're correct

no worries bud

 

[TofuMofu]

There was a better explanation but I can't find it.

If you're in the 41% bracket prepare for butt hurt

Thanks for that.

So if I understand correctly, anything below R30k per year has no tax on it?

 

[mintydroid]

Thanks for that.

So if I understand correctly, anything below R30k per year has no tax on it?

If it can be classified as capital gains then yes. There is a capital gain allowance of 30k every year.

Basically if shares were held for 3 years or more then it is capital gains.

 

[roligov]

Was hoping for a major drop today, will see tomorrow

 

[Grant]

so what was today's closing price ?

 

[Shi]

http://www.sharenet.co.za/v3/quickshare.php?scode=LON ... 76c

so what was today's closing price ?

 

[MickeyD]

Mod note: thread title changed

 

[Thor]

Fck all you and SARS, TFSA for the win

 

[Hamster]

Fck all you and SARS, TFSA for the win

TFSA ain't gonna help you with Lonmin shares

 

[Noseworthy]

Yeah sucks and you can't transfer from stocks to TFSA

 

[thehuman]

For the guys who bought rights and using fnb.
How do I exercise my rights?
To exercise your rights, you MUST provide an instruction to our FNB Share Investing Corporate Actions Department via email to ShareInvestingCA@fnb.
co.za or by calling 0860 742 737, by no later than the deadline date.

 

[Noseworthy]

For the guys who bought rights
How do I exercise my rights?
To exercise your rights, you MUST provide an instruction to our FNB Share Investing Corporate Actions Department via email to ShareInvestingCA@fnb.
co.za or by calling 0860 742 737, by no later than the deadline date.

reply to the mail with your account number:

"Hi There

Ill like to excerise my rights at .21c and convert to shares

Share Investor
62571448622 - Share Investor"

 

[DeathStrike]

Can I buy lonmin shares now and the get some of those rights is it still worth it to jump on lonmin now. I am holding off for a drop but didn't drop today.

 

[thehuman]

reply to the mail with your account number:

"Hi There

Ill like to excerise my rights at .21c and convert to shares

Share Investor
62571448622 - Share Investor"

Thanks wanted to post it for fellow fnb users. Forgot to mention fnb
Going to try cash in some and buy more rights

 

[Thor]

Can I buy lonmin shares now and the get some of those rights is it still worth it to jump on lonmin now. I am holding off for a drop but didn't drop today.

Rights are only for those who had shares back then when it was issued

 

[thehuman]

Rights are only for those who had shares back then when it was issued

Question?
Now that i realised i can buy rights
I am thinking of getting rid of standard lonmin and use the proceeds to buy rights cheap.
This could be reason why this share is not as volitile any more