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Online Share Trading

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Tax

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Porshe
Contributor
hi guys what the tax when you sell thanx ?
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9 REPLIES 9
AJT
Super Contributor
depends, if you buy a share and hold it for 3 years or longer, you only pay capital gains tax (approx 10%). If you hold a share for less than 3 years and make a profit, the profits get added to your income and you get taxed at your income tax rate, i.e. more than likely in excess of 30%..
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Porshe
Contributor
thanx tax payed via OST or i have to pay it myself?
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AJT
Super Contributor
OST will provide you with a statement that you submit to SARS and you will be liable to pay over the taxes..
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Porshe
Contributor
thanx
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bangbul
Regular Contributor
Porshe,it's more complicated- you might get away with capitol gains if you re-invest even if not held for 3y. Wait for sars to declare you a trader. Get an accountant.
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P_K
Contributor
There are different scenarios for different groups If you are an individual and trading (speculative less than 3 yr holdings) the net profit or loss you make on your portfolio after allllll costs needs be included in your income in your tax return - its tax season at the moment and if you doing this now I can guide you into the costs and expenses you are entitled to deduct of your profits to get to net trading income to include in your return - if you making a loss - you can also deduct this against taxable income long term holdings need to be reflected on your balance sheet you declare to the RoR and on liquidation it will attract CGT which you will need to declare
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Porshe
Contributor
thanks all
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Not applicable
Hi PK I would like to clarify some issues with you, can you please email me : [email protected] Regards Marius
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CHATTYCHAT
Super Contributor
Follow the menu from My Account\Tax Statements where you will find brochures: 04-May-2010 Tax Guide for Share Owners and 04-May-2010 Tax Pocket Guide.
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