FNB TFSA (share saver)

zerocool2009

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Hi guys ....

Did any one realize that tax was deducted on a TFSA yesterday A G A I N?

That is now the 2nd time in the last 3 dividend payout cycle where this happens.

Not cool in my eyes to be honest.
 
Again?!? Wtaf

No man, it's just the foreign Div that was taxed this time.
 
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Again?!? Wtaf

No man, it's just the foreign Div that was taxed this time.

In my eyes no tax should be taken at all. Why do we have that then is the question ?

Do you think that is right actually ?
 
In my eyes no tax should be taken at all. Why do we have that then is the question ?

Do you think that is right actually ?
It's right for FNB to comply with the Income Tax Act, yes.

Whether it is really "right", who knows. Maybe it's to encourage investment in local funds over the DBXs of the world. Looking at the tax I paid on the recent Dbx world dividend payouts, ja it kinda hurts.
 
It's right for FNB to comply with the Income Tax Act, yes.

Whether it is really "right", who knows. Maybe it's to encourage investment in local funds over the DBXs of the world. Looking at the tax I paid on the recent Dbx world dividend payouts, ja it kinda hurts.

I contacted them and will give feedback on here.

Is your DBX world div also a TFSA product or related ?

Anyone, i quickly checked online:

TFSA Share Saver : Pay no tax
All capital gains and dividends earned are tax free
 
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TFSA Share Saver : Pay no tax
All capital gains and dividends earned are tax free

Those are two different things...

TFSA - Is a saving earning interest - Tax free.

The moment you get capital gain from shares or dividends it will be taxed, it's not a tax free investment it's an investment and ALL capital gains will be taxed.

I stand to be corrected though.
 
Those are two different things...

TFSA - Is a saving earning interest - Tax free.

The moment you get capital gain from shares or dividends it will be taxed, it's not a tax free investment it's an investment and ALL capital gains will be taxed.

I stand to be corrected though.

Dividends and interest and capital gains are tax free in a TFSA (except foreign dividends, and maybe foreign interest too), since ETFs and Unit Trust and other products can be in a TFSA wrapper, not just savings accounts.
 
Dividends and interest and capital gains are tax free in a TFSA (except foreign dividends, and maybe foreign interest too), since ETFs and Unit Trust and other products can be in a TFSA wrapper, not just savings accounts.

I learnt something. Thanks :)
 
Reading the above then FNB must update their website to say Foreign Dividends are excluded.

Picture I select a fund from whomever, and it is all oversea funds. L O L

My view is, all TFSA accounts are designed not to be taxed.

Let me get the facts
 
Reading the above then FNB must update their website to say Foreign Dividends are excluded.

Picture I select a fund from whomever, and it is all oversea funds. L O L

My view is, all TFSA accounts are designed not to be taxed.

Let me get the facts

SA Treasury does not run US IRS and thus IRS taxes still apply (as an examples).

It's the same in other countries, example is Canadian TFSA:
http://www.moneysense.ca/save/investing/investing-u-s-stocks-in-a-tfsa/

And you must extend your request "to say" to all TFSA providers...
 
The reason why I am saying this is a fault.

On the 23rd of Jan 2017 allocation, no tax was taken even on foreign divs
On the 17th of Oct 2016 the same story. Div was paid out, no tax taken
On the 5th ofJan 2016 the same story. Div was paid out, no tax taken

I can triple check every pay out which is every 3 months. This is the first time i see that tax are taken on foreign DIVS
 
Seems to be a problem with all the DBX funds across the board for everyone.

Had the same happen on EasyEquities.

The reason you are receiving this email is because we’ve made an error in either your Investment or TFSA account which needed correcting.

You may have noticed on Friday 28 July 2017, that we credited dividends relating to db X-trackers ETF’s you held, into your relevant EasyEquities account. Part of the calculation relating to Foreign Dividends was incorrect and so the error was reversed and corrected on Saturday 29 July 2017.

The distribution was in respect of the 6 months ended 30 June 2017. Should you wish to view the distribution announcements for any of the db X-trackers, please click on the link below.

DBXEU: db x-trackers Eurostoxx 50 Index ETF

DBXJP: db x-trackers MSCI Japan Index ETF

DBXUS: db x-trackers MSCI USA Index ETF

DBXWD: db x-trackers MSCI World Index ETF
 
I am talking here about FNB TFSA (ShareSaver) which is an ETF
OK, I'm going to be pedantic but I need to correct you. FNB's Share Saver and the TFSA version are not ETFs.

It's an investment account investing in two separate ETFs - top 40 and midcap
 
Where does the foreign div then come in I wonder...
Naspers etc? I'm guessing here but most of their business is done offshore and they've got stake in the likes of Tencent so I'm assuming that's it.
 
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