What $hould I do?

[PlanesTrainsAutomobiles]

I have GBP in an offshore account.

Wiser to bring it back (although the improvement in the ZAR/GBP exchange rate is not currently as favourable to me as it can be) and buy a few Kruger Rands

OR

Wiser to bring it back and use it as a down payment on a small investment apartment in CPT?

 

[Sideshow Bob]

Yeah. I also don't know whether SARS will tax it the moment it lands in any of local accounts.

 

[PlanesTrainsAutomobiles]

Yeah. I also don't know whether SARS will tax it the moment it lands in any of local accounts.

Let me check with the accountant. The source of the funds was my salary, so I doubt I would/could be taxed on it again?

 

[syntax]

I would do neither, and rather stick it in something like S&P 500 and let it grow.

 

[neoprema]

South Africa's strong rand is riding a failing Dollar and Pound due to Trump, and the UK turning into a caliphate.

Once, and when, those problems are sorted its going to go the other way fast because our Gov is hell-bent on destroying investment. So i would keep the funds out of the country for now.

Although our banks generally weather global issues quite well, i just don't trust the Gov....

 

[PlanesTrainsAutomobiles]

I would do neither, and rather stick it in something like S&P 500 and let it grow.

I am already invested in the S&P.

 

[PlanesTrainsAutomobiles]

South Africa's strong rand is riding a failing Dollar and Pound due to Trump, and the UK turning into a caliphate.

Once, and when, those problems are sorted its going to go the other way fast because our Gov is hell-bent on destroying investment. So i would keep the funds out of the country for now.

Although our banks generally weather global issues quite well, i just don't trust the Gov....

Do you really think under Trump, the situation will be "sorted"? I am not initiating a political debate, I am asking from an economic POV.

 

[syntax]

I am already invested in the S&P.

Any reason you want to pull it back into SA?
I have 2 properties left there, and I honestly wish I hadnt done that and just taken the money outside of the country.

 

[Kyle15]

Let me check with the accountant. The source of the funds was my salary, so I doubt I would/could be taxed on it again?

You should be declaring the foreign interest and related income to SARS and paying taxes on it. I would assume your accountant is doing that for you so you should be good if the account was funded legitimately.

It's always better to diversify your exposure, so if all of your current investment is in ZA I would keep the money offshore.

Gold may be a good punt though. Always depends how much risk you want, gold is doing some scary things lately so you can either eclipse the returns or run a loss, quite volatile at the moment.

 

[neoprema]

Do you really think under Trump, the situation will be "sorted"? I am not initiating a political debate, I am asking from an economic POV.

I don't think so, possibly after hey...

Its a catch 22, he has saved a lot of money in some places, but his foreign policy views trash the USD.

 

[PlanesTrainsAutomobiles]

Yeah. I also don't know whether SARS will tax it the moment it lands in any of local accounts.

The accountant confirms that, as the funds originated from salary income and were already subject to PAYE when earned, the capital amount is not taxable again upon re-entry into South Africa.

As the funds are kept in a non-interest-bearing account, there would be no interest income to declare in my SA tax return.

 

[Corelli]

Bring it back it and it will be taxed with 100s of questions.

I would leave it offshore unless you need it. Rental apartments locally arent worth it. They want to hike taxes on airbnb by 135%.

But economically with China's moves to become the world reserve currency, we may see the entire US economy going down the drain. For years they have been printing dollars while taking in foreign money but with the foreign money now leaving the US, its making their debt moving a lot more towards a cliff-face. And they know they are in trouble.

 

[PlanesTrainsAutomobiles]

Bring it back it and it will be taxed with 100s of questions.

I would leave it offshore unless you need it. Rental apartments locally arent worth it. They want to hike taxes on airbnb by 135%.

But economically with China's moves to become the world reserve currency, we may see the entire US economy going down the drain. For years they have been printing dollars while taking in foreign money but with the foreign money now leaving the US, its making their debt moving a lot more towards a cliff-face. And they know they are in trouble.

Maybe I should invest it in an emerging markets ETF.

 

[PlanesTrainsAutomobiles]

Bring it back it and it will be taxed with 100s of questions.

I would leave it offshore unless you need it. Rental apartments locally arent worth it. They want to hike taxes on airbnb by 135%.

But economically with China's moves to become the world reserve currency, we may see the entire US economy going down the drain. For years they have been printing dollars while taking in foreign money but with the foreign money now leaving the US, its making their debt moving a lot more towards a cliff-face. And they know they are in trouble.

Does this mean that we could face a potential complete collapse of e.g. the S&P 500, the Nasdaq 100, etc?

 

[RedViking]

We can invest it in Vikings Coffee. Yes?