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Online Share Trading

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Dead Forum? Let's have Fun (Losses and Gains) Tax Year!

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Alonzo7
Frequent Contributor
Brave & Honest enough to share Losses or Gains? Tax Year as from 01 March 2009 - 28 Feb 2010.
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36 REPLIES 36
DR_1
Super Contributor
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DR_1
Super Contributor
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Not applicable
Sorry not sure if you work for SARS and I dont shag and brag ;-)
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Not applicable
Started trading last year June when vodacom listed. Was in and out of market with breaks in between. Had broken even by the Christmas time, but then I took a shine to warrants since xmas. Lost about R20 000 to date and made less than 5 grand. Most losses were in February this year. I must be attending the most expensive school coz my fees are over the roof lol. I must say I am learning fast and refuse to give up.
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Not applicable
R20k loss, thats pocket change. When you start getting to the R500k plus mark then you paid real school fees ;-) and no that is not my loss last year. I have blown plenty trading accounts over the years, but now am on the up and up...
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genie2b
Frequent Contributor
Did multiple trades on FSR since June...made about 10k profit up until now
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Not applicable
Gosh CPS, I cannot lose 500K even if i tried (dont have it). I save from my salary every month and that is the money I use to trade. (it aint anyway near that figure). I should add, you are a determined chap to even get to 500K and keep going. would have thrown in the towel but from what you are saying, for you it was worth it in the end.
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john_1
Super Contributor
Have you signed up as an investor in my project.. I promise the downside is tiny compared with this and the upside might go a long way in putting back some of that cash
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Not applicable
John, sent you mail as not sure how much you want to discuss of the back end suff here.
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john_1
Super Contributor
I thought I responded will check.. I have the contract in hand. I have sent it to SImon and to my advocate friend for comment so as soon as they happy I will send you a copy.
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Alonzo7
Frequent Contributor
Dooktacs -We all have to "crawl" before we walk. CPS - let's give to "Caeser what belongs to Caeser" as long as it is proper & just. DR - Indeed a Big Loss!thanks for sharing & hope you get it back soon. My loss incurred for the Tax Year was a total sum of R104 250.73 Reasons:I do not like losing money so I end up adding more to my losing positions INSTEAD of cutting my losses & moving on. The instrument that assisted greatly in my Losses were "Warrants"! :-) Don't get me wrong - I made some money on Warrants BUT the Market took it all back and more!!!! Did I learn a good lesson? NO!! I learnt a GREAT lesson!!- Do NOT "double up to catch up". Simple, But good advice = Follow some of the tips that Simon and other Presenters provide at seminars (especially the Warrants Seminar). Cheers,happy trading & let's share some more lessons as well as share in the positives??
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Not applicable
Wow! you guys are talking big numbers. I must be the lowest chimp (monkey) in this forum. Even if I am over estimating my loss, it could only total to about R3000 but in percentage form is about 200% of my portfolio. I wish I could one day have as big a portfolio as one of you guys. i am a poor student aiming to be the richest man in the world.
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KJR
Frequent Contributor
I trade mostly SSF's and current tax year profit is around R200k.I may to pay a large portion of it to support Malema's lifestyle. Besides claiming the normal expenses against this profit are there any unusual expenses that I can claim?
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Mr_Money
Regular Contributor
45 000k loss so far. Hope to turn things around
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Mr_Money
Regular Contributor
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Alonzo7
Frequent Contributor
Well Done, Rakem!! Keep it up. Not too sure what else you can claim for - Perhaps if you had taken out a 2nd mortgage loan OR other Loans & used this "borowed" funds as Capital for your Share Portfolio (provided you can prove it) - you may probably be able to write the interest that you paying on the mortgage loan/other loan/s "OFF" against the profits that you earned/made. BUT remember it is normally not a good idea to "borrow" money for the purpose of purchasing shares. It would certainly be beneficial to get proper advice.Anyone on the Forum that can assist Rakem?? Cheers!
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Asher
Regular Contributor
Obvious question: has anyone made a profit from trading warrants?
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SimonPB
Valued Contributor
the rand value lost is meaningless .. it is the percentage .. an yes I ahve made money from warrants for the last ten years ..
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THRESHOLD
Super Contributor
Up nearly 145% mostly on stock picks - my trading has always been a mess. The amount involved is substantial.
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