NEWWVEUSD - Proxy for USD

[Limitless]

Hi All... Just a quick check - it the NEWWVEUSD an ETN that is a proxy for the USD? Is this as good as holding the currency in a USD forex account?

[SimonPB]

pretty much

[Limitless]

tx... another q. in my understanding, you are allowed to hold a max of R1mil in forex without attracting tax. What are the tax impacts with the ETN? CGT?

[SimonPB]

these ENT have no limit, the R1m (+ another R4m) is for cash actually off shore). tax on profit is as per normal