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Community


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Online Share Trading

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The New Tax Free Account.

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G_V_V
Super Contributor
Anybody know what one must do to have the Tax free account of R30,000 per year, can I open another account with OST and buy shares for that account? Does that mean that account does not have to be included in one's tax return? How does it work? If one can open another account with OST will there be a service charge every month on that Tax Free account?
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10 REPLIES 10
partridge
Super Contributor
Wait to find out the details - all will be revealed - so watch the budget speech - and forget about shares as a holding - applies from 2015 2016 tax year.
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G_V_V
Super Contributor
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G_V_V
Super Contributor
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CHATTYCHAT
Super Contributor
At this stage looks like you will have to go for an insurance product. Banks are holding their breath - awaiting final regulations still not published, on how to structure their offering.
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SimonPB
Valued Contributor
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partridge
Super Contributor
You will not have to go for an insurance product. Investec have just offered a fixed deposit version.. 12 months but then I suppose they would.
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G_V_V
Super Contributor
Thanks Simon, this is just what I was looking for, however will there be a service fee each month, i.e. the R60 we are paying on the OST account if three trades are not executed each month? Will the account be connected to my present OST account, will it have the same account number or will I have to log in using another number?
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G_V_V
Super Contributor
Everything is cool, the account is already under my existing product registration menu. I have already registered. Thanks again.
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Creature_of_the
Super Contributor
So to get to the max its going to take 16+ years ?.. Could be a nice longterm investment....
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samoa
Super Contributor
Which securities may be traded/invested in?
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