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SlimArchi

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SlimArchi last won the day on March 1

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About SlimArchi

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  1. Definitely not 4Sight [emoji23]
  2. Just to confirm, will we be getting an equal amount of multichoice shares as we had Naspers shares?
  3. Why can’t I sell Pem on easy equities? It keeps giving me an error
  4. I’ve just read the tax legislation with regards to dividends and this is what will happen: 1) All dividends received from foreign and local companies will be included in your gross income. 2) These dividends will then be exempt from income tax under S10(1)k of the income tax act (provided they’re not distributions from a REIT or controlled company) 3) Local dividends will have a withholding tax of 20% applied to them and thus you’ll pay 20% tax on them. 4) A rebate is claimed on foreign dividends that have had a withholding tax applied. The rebate is equal to the amount of foreign tax paid on the foreign dividend.
  5. There is no tax on foreign dividends from what I recall- but I could be wrong.
  6. SlimArchi

    Tyme Bank

    So I’ve noticed that Tyme bank is up and running. They don’t charge monthly fees and it’s mainly pay for what you use. But what I’m interested in is their upper limited of 10% that you can earn on your savings account. Does anyone know if this is compound interest as it should be or is it simple?
  7. I’m not a tax expert, but usually if an amount is received by you that’s not for your own benefit then it’s not included in your gross income and not taxed. There might be other reasons but you should probably speak with a tax consultant.
  8. I’m not too sure of the circumstances of the truck agreement but I’d be weary about it. It seems as if the business stops payments (because of bankruptcy etc.) it would be your name and credit score that is damaged. You also may not have a claim on the asset if you aren’t one of their creditors so it could get taken away and you’re left with monthly installments to pay. This could cause you to default on payments and then will obviously fair quite badly when trying to get a home loan.
  9. Thanks for that you may have just convinced me to switch! Been thinking about using a platform with a better interface for a while now.
  10. That does seem very nice! It reminds me of MetaTrader. Does it have buy/sell limits and stop losses or trailing stop losses?
  11. I think this has been discussed before, but who else would you recommend trading shares through? One of the banks?
  12. What was their screw up? The thrive thing is very annoying though...
  13. A TFSA is more for the long term and I think a lot of the older generations are too old to take advantage of this. Also because if your TFSA is with equities, it is a lot riskier and most people cannot take on such a risk. Furthermore, a TFSA is useless if you’re just going to be putting cash into it (if it’s a bank account with your bank)and trying to earn interest. This is because they normally offer low interest (5-6%) which could be outrun by inflation- meaning that you’re actually losing money. Also, you already get tax exemptions of up to R23 800 or so on interest per year anyways and I doubt the majority of people have enough cash to earn this much interest. In order to take full advantage of a TFSA, you should have one with a unit trust provider or stock broker. Your gains and Dividends will then be tax free and this could lead to extremely large savings. (Feel free to correct me if I’m wrong) So I’d say be happy that your bank don’t provide one because this allows you to open up a TFSA with a different broker.
  14. Thank Saurus, that has helped a lot! I actually have a bit of SYG4IR in my TFSA. It seems like it was doing quite well but I noticed a bit of a drop this week. I’ll definitely take your words to mind. I’ve been caught up between just keeping some cash in a bank account and getting around 5.3% interest or going into ETFs. It is short term for 6-12 months so I was leaning towards the investment account. But with markets the way they are this week I thought it would be a good time to get in and diversify a bit.
  15. And seeing as though tech stocks are down perhaps this would be a good time to purchase STXNDQ
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