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Tezzarak

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Everything posted by Tezzarak

  1. Good day. I am new to utilizing online brokers and have just now signed up with Interactive Brokers. How do the rest of you go about funding your account? Do you use places like ClickFx or do you do it through your bank via SWIFT (probably more expensive I take)? Also which currency is best to use? I saw that they had a ZAR deposit option, but ZAR is not available as a currency option when trying to do a SWIFT payment via my online banking platform. Thanks
  2. Thank you @Bandit This is exactly the information I was looking for.
  3. Thank you for the feedback. I have looked at Coreshares, and although their offering looks good, unfortunately they do not offer all the ETFs I'm after. Do you know if a 'ABSA stockbroker'/'etf only' account will give me access to those ETFs that I listed, or is also only limited to ABSA specific ETFs?
  4. Hi. Newbie here. Can anyone recommend a 'good' (credible, established) platform where I can buy ETFs that track the following indexes all in once place (NOT EasyEquities): MSCI World MSCI Emerging Markets S&P Global Dividend Aristocrats S&P Global Property 40 Index Another quick question : I get conflicting information online if the GLODIV ETF is for dividends paid over 10 or 25 years. (Or are there different types?) Thank you
  5. Hi Umbral Thank you for the response. I agree with what you are saying, but still don't feel I have an answer to my question : Let's say I did crypto trading and then I sold 80% of my crypto and took profits. I then decide to keep the remaining 20% in my wallet and want to keep them as capital investment moving forward - so I'm not trading anymore - It states in the tax guide that that this switching from trading stock to capital stock is allowed, if you declare all profits/losses up to that point of this "switch" (change of intent) as income revenue tax (ie trading stock). So let's say now I do my returns (and maybe go through the audit process) , I pay over whatever and all is said and done. Now a few years from now I sell those other 20% cryptos, but now SARS says, hey let's charge this as income revenue too. Then I say no no, from date x I was keeping this as capital investment. How do I prove this to them there was actually a change in intent from that date by myself? Do I create a document in which I state my intentions. Do I submit this document together with when I submitted my initial crypto tax submissions of trading nature? Hope this clarifies my question further.
  6. Thanks, I have read that article - and numerous others. Still looking for an answer regarding change of intent.
  7. Hi, I have a question regarding taxation and hope someone who has knowledge in this space could help answer. Let's say in one year I bought 100k worth of Bitcoin and then started trading with it, converting between various coins etc. Now afterwards I have a total worth of 2 million (For the sake of argument, let's say that it is confirmed that crypto to crypto transactions triggers tax events). From what I gather I will have to declare this trading profit as income tax of revenue nature to pay over (highest tax bracket - let's leave out other income for this discussion). Ok, so now I go ahead pay/declare this amount over to SARS as revenue income of nature. Let's say following that I move all these coins to hardware wallets and my intent is now to have this as a capital investment moving forward, meaning long term if I sell (3 years?) I want any further gains to be taxed at the CGT rate. Now my question is the following : How can I document/signal this intent to SARS of moving from trading to capital investment purposes?
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