35854 replies to this topic

[Sunesis]

I was wrong yesterday, this is the silliest thing you have said on this forum.

 

Be careful what you put in the open space Sunesis. SARS offer incentives and rewards to individuals blowing the whistle on tax defrauders - You don't want a disgruntled forum reader making it their life's mission handing you in to SARS - You have openly admitted to international bank accounts and tax evasion.

They should arrest Zuma 1st.

Our police service is disfuntional. All i have to do is give them some off my trading profits and the case will be droped.

 

With money you can avoid anything. 

[Mad Max]

Im not overly bearish..I just think that the current shorterm setup of both the SP500 and J200  over the next 7 trading days is biased towards profit taking. So on my 30 and 60 mins charts I have another 200 points down but on my 90 and 180charts I have at least 500-600 points but after that has played out 41000 is on like a scone

And maybe  drop another 100+ points to 40150 , tomorrow another 350  to  39800 and back up we go  ?

 

So a good guess that the next support is @39800 ??

Edited by Rockstar, 23 October 2013 - 01:19 PM.

[Redeemer]

Well, I'm not a tax guru, but isn't tax avoidance legal?

 

(as opposed to tax evasion?)

 

 

 

I was wrong yesterday, this is the silliest thing you have said on this forum.

 

Be careful what you put in the open space Sunesis. SARS offer incentives and rewards to individuals blowing the whistle on tax defrauders - You don't want a disgruntled forum reader making it their life's mission handing you in to SARS - You have openly admitted to international bank accounts and tax evasion.

[@sirgrantfleming]

Rules written on paper does not mean they are followed. If people followed rules, we would live in a democratic society.

The world is 100% capitalist, those who pay taxes are those who lack information.

 

Even the presidents of this world are avoiding tax, judges, politicians everyone is avoiding tax. The same person who wrote those rules probably hasn't paid tax since.

 

For me a person who pays tax shows lack of financial intelligence.

 

I was wrong yesterday, this is the silliest thing you have said on this forum.

 

Be careful what you put in the open space Sunesis. SARS offer incentives and rewards to individuals blowing the whistle on tax defrauders - You don't want a disgruntled forum reader making it their life's mission handing you in to SARS - You have openly admitted to international bank accounts and tax evasion.

[Olymphia]

Im not overly bearish..I just think that the current shorterm setup of both the SP500 and J200  over the next 7 trading days is biased towards profit taking. So on my 30 and 60 mins charts I have another 200 points down but on my 90 and 180charts I have at least 500-600 points but after that has played out 41000 is on like a scone

 

Chubby

 

A further 200 point down would b re - testing the previous 40000 high that was broken that would now b a support.

 

O

[Sam]

But you have a choice in incurring the Dividends TAX. You don't have to pay it out and can use that 15% to build your cash.

For whatever reason you may choose to delay the dividend tax, the fact remains you will eventually want the money out and then WILL have to pay the 15% divi tax. There is no way around it, so to tell people that to trade shares through a company results in a lower tax rate is incorrect. There is little point in having an ice cream and not being able to eat it.

[Lekkerry]

Last comment from me on this: not lack of intelligence, but lack of integrity.

 

For me a person who pays tax shows lack of financial intelligence.

[Sunesis]

You might want to visit a tax practitioner for clarification.

 

"Residents are taxed on their worldwide income, subject to certain 

exclusions. Foreign taxes on that income are allowed as a credit against 

South African tax payable. This is applicable to individuals, companies, close 

corporations and trusts."

http://www.treasury....ocket Guide.pdf

Rules written on paper does not mean they are followed. If people followed rules, we would live in a democratic society.

The world is 100% capitalist, those who pay taxes are those who lack information.

 

Even the presidents of this world are avoiding tax, judges, politicians everyone is avoiding tax. The same person who wrote those rules probably hasn't paid tax since.

 

For me a person who pays tax shows lack of financial intelligence.

[Mhlato]

A word of caution to those who enjoyed the ride on the "1hr thingy" from Oct 10, it's flirting with the 20ema and the 10ema is also closing in....time to take profit 

[Lekkerry]

You might want to visit a tax practitioner for clarification.

 

"Residents are taxed on their worldwide income, subject to certain 

exclusions. Foreign taxes on that income are allowed as a credit against 

South African tax payable. This is applicable to individuals, companies, close 

corporations and trusts."

http://www.treasury....ocket Guide.pdf

 

 

I have never paid tax since i began trading. I don't feel the need to pay for Zuma's house.

Most of my money is in dollars with a US broker. When i want to use the money i simply transfer it to a offshore bank from my brokers account.

I will then use my offshore banks card to make purchases.

 

Its kind off living in South Africa but working in the states.

 

The rich don't pay tax. I am trying to also have a rich mentality by using their tricks

[Sunesis]

From what I read he is saying if it goes below 1735 and passes 1709 we are cooked.. To get to 1730 S&P must lose just over 1.1% today and to get to 1709 another 1.6% or thereabouts..  ???

Why my 2c advise is buy the dip as long as S&P  is above 1700.

 

On the previous debt deal downtrend i also mentioned to buy the dip as long as we were above 1630.

I don't confuse my mind buy shorting a bull trend. The are key areas were i say buy the dip we be revised. Before those areas get hit i just keep buying with both hands.

 

Now that area is 1700

[Mad Max]

Good Elliot wave analysis on S&P

 

https://www.facebook...150369753014969

From what I read he is saying if it goes below 1735 and passes 1709 we are cooked.. To get to 1730 S&P must lose just over 1.1% today and to get to 1709 another 1.6% or thereabouts..  ???

[gselis]

I have never paid tax since i began trading. I don't feel the need to pay for Zuma's house.

Most of my money is in dollars with a US broker. When i want to use the money i simply transfer it to a offshore bank from my brokers account.

I will then use my offshore banks card to make purchases.

 

Its kind off living in South Africa but working in the states.

 

The rich don't pay tax. I am trying to also have a rich mentality by using their tricks

Can't fault you there

[Sunesis]

Good Elliot wave analysis on S&P

 

https://www.facebook...150369753014969

 

 

[Mad Max]

S&P futures now 1738/9 would that not take our T40 F's a bit further down than current?

??

I'm with you and Chubby and it looks like there might be a few days of hell if the S&P closes below  1740 today....

[Sunesis]

But you have a choice in incurring the Dividends TAX. You don't have to pay it out and can use that 15% to build your cash.

I have never paid tax since i began trading. I don't feel the need to pay for Zuma's house.

Most of my money is in dollars with a US broker. When i want to use the money i simply transfer it to a offshore bank from my brokers account.

I will then use my offshore banks card to make purchases.

 

Its kind off living in South Africa but working in the states.

 

The rich don't pay tax. I am trying to also have a rich mentality by using their tricks

[gselis]

I beg to differ and see no benefit in trading through a company as an individual.

1) While company tax is 28%, the taxed profit then sits in retained earnings. The only way of getting the profit into your hands ( personally), is for the company to declare a dividend which is subject to a further 15% withholding tax.

2) Interest earned through companies is fully taxable whereas in the case of an individual their is an age dependent exemption.


I agree, keep LT investments in a separate account to short term.

 

I beg to differ and see no benefit in trading through a company as an individual.

1) While company tax is 28%, the taxed profit then sits in retained earnings. The only way of getting the profit into your hands ( personally), is for the company to declare a dividend which is subject to a further 15% withholding tax.

2) Interest earned through companies is fully taxable whereas in the case of an individual their is an age dependent exemption.


I agree, keep LT investments in a separate account to short term.

 

But you have a choice in incurring the Dividends TAX. You don't have to pay it out and can use that 15% to build your cash.

[Sam]

There was a question last week whether it is better to trade in your own name or in a company name. My answer is trade in both
 
This is why:
 
-If are a short term trader you want to trade from a company as your tax rate is lower. This is assuming you are on the highest marginal rate as an individual. Also if you are a trader then you want to keep your short term trading activities separate to your long term trading (more than three years, SARS’s Test)
 
-If you are looking to hold shares longer than three years then put this brokers account into your personal name.
 
SARS’s test whether you should be taxed on capitals gains or whether you should be taxed on normal tax for share trading is whether or not you hold the instrument for three years.
 
-       The inclusion rate for capital gains in your personal name is 33% then you are taxed on this at your marginal rate. Effective capital gain’s tax 13%
-       The capital gains inclusion rate in companies is 66% then this is taxed at 28%. Effective Rate  18, 5%
 
Its best to keep your long term trades over three years separate to your short term trades. This way SARS does not challenge trying to make your long term capital gains trading profits.
 
Also remember that when you use instruments like CFD’s  you are open to SARS always challenging you that profits should be classed as TRADING profits even if you hold them more than three years. The nature of the instrument lends itself to trading.

I beg to differ and see no benefit in trading through a company as an individual.

1) While company tax is 28%, the taxed profit then sits in retained earnings. The only way of getting the profit into your hands ( personally), is for the company to declare a dividend which is subject to a further 15% withholding tax.

2) Interest earned through companies is fully taxable whereas in the case of an individual their is an age dependent exemption.


I agree, keep LT investments in a separate account to short term.

[gselis]

There was a question last week whether it is better to trade in your own name or in a company name. My answer is trade in both

 

This is why:

 

-If are a short term trader you want to trade from a company as your tax rate is lower. This is assuming you are on the highest marginal rate as an individual. Also if you are a trader then you want to keep your short term trading activities separate to your long term trading (more than three years, SARS’s Test)

 

-If you are looking to hold shares longer than three years then put this brokers account into your personal name.

 

SARS’s test whether you should be taxed on capitals gains or whether you should be taxed on normal tax for share trading is whether or not you hold the instrument for three years.

 

-       The inclusion rate for capital gains in your personal name is 33% then you are taxed on this at your marginal rate. Effective capital gain’s tax 13%

-       The capital gains inclusion rate in companies is 66% then this is taxed at 28%. Effective Rate  18, 5%

 

Its best to keep your long term trades over three years separate to your short term trades. This way SARS does not challenge trying to make your long term capital gains trading profits.

 

Also remember that when you use instruments like CFD’s  you are open to SARS always challenging you that profits should be classed as TRADING profits even if you hold them more than three years. The nature of the instrument lends itself to trading.

 

[Sunesis]

S&P futures now 1738/9 would that not take our T40 F's a bit further down than current?

??

ALSI has a bigger range of about 300 points daily, the S&P average range is 10points. It still might go down but 10 points for S&P is 300 points for ALSI

 

That's why you should not even think to trade ALSI with stops of less than 300points, you will be just donating money to the market.