22. Amounts to be taken into account in respect of values of trading stocks.-(1) The amount which shall, in the determination of the taxable income derived by any person during any year of assessment from carrying on any trade (other than farming), be taken into account in respect of the value of any trading stock held and not disposed of by him at the end of such year of assessment, shall be- (a)in the case of trading stock other than trading stock contemplated in paragraph (b), the cost price to such person of such trading stock, less such amount as the Commissioner may think just and reasonable as representing the amount by which the value of such trading stock, not being shares held by any company in any other company, has been diminished by reason of damage, deterioration, change of fashion, decrease in the market value or for any other reason satisfactory to the Commissioner; and (b)in the case of any trading stock which consists of any instrument, interest rate agreement or option contract in respect of which a company has made an election which has taken effect as contemplated in section 24J (9), the market value of such trading stock as contemplated in such section. ## This is an excerpt of s22(1) which basically state that you can deduct your allowable costs i.e. costs in the production of income including your books, brokage and admin fees. ## My suggestion is for Simon to get us a tax expert who will discuss not advice us on taxation of shares. I know people say that one must get a tax practitioner but what if that tax practitioner gets your tax calculations wrong, of course you will be liable to SARS and not the tax consiltant. So my point is, get people equipped with basic tax knowledge by asking SARS to send a tax specialist to on a one hour course.