Hi Guys, I would like to buy shares for my Cousins 1 year old boy.. maby R1000 SATRIXDIV, aparentky you have to be 5 years olt to own your own share account, and OST wants to charge me about R340 for a share certificate, sounds a bit expensiven, any other ideas?
I have opened up an SBK Auto Share Invest account for my kids, where I stick the odd 500 or 1000 each month into SATRIX. Once they are of age I'll transfer this into their own names. I find this is the cheapest way for me to buy monthly small amounts of SATRIX.
Same as CGT for sale of shares as and when sold. And if I am going to have to pay any sort of Transfer 20% donations tax or anything like that, I might hold it in my name.....although I am investigating a Trust at the moment, and I might move the holdings into the Trust. Its not a massive amount at the moment, so I have a bit of time wiggle room. Since my daughter is only 20 months old and the other -4 months, I have a year or so to make a proper plan.