TAXES ON YOUR EARNINGS
Depending on how often you switch or trade investments, the South African Revenue Service will expect you to pay either income tax (if it regards you as a trader), or capital gains tax on gains made, subject to annual thresholds and exemptions. According to SARS: “Shares held as trading stock are ones that you bought for the main purpose of reselling at a profit. Any gain or loss you make on disposal of a share you held as trading stock will be of a revenue nature. By contrast, if you hold a share as a capital asset (that is, as a long-term dividend-producing investment), any gain or loss upon its disposal will be of a capital nature.” Losses can be offset against gains made, as can operational expenses if you are classified as a trader.
PERSONAL FINANCE
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2022-12-03T08:00:00.0000000Z
2022-12-03T08:00:00.0000000Z
http://capeargus.pressreader.com/article/282166475206885
African News Agency