๐ช๐ ๐๐ฅ๐ ๐ง๐๐ซ๐๐ ๐ง๐ข ๐๐๐๐ง๐ ๐ฟ๐ฆ
Let me open your eyes, check this purchase out on EasyEquities.
A R50,000 buy of Thungela Resources stock, which is R49,687.33 (Net).
SARS takes their cut of R148,80 before any growth occurs. There are two fees that flows to SARS.
1. Securities Transfer Tax (0.25%)
๐ฎ. ๐ฉ๐ฎ๐น๐๐ฒ ๐๐ฑ๐ฑ๐ฒ๐ฑ ๐ง๐ฎ๐ (๐ญ๐ฑ%)
The Value added tax is charged against the services fees, which are the ๐ฏ๐ฟ๐ผ๐ธ๐ฒ๐ฟ ๐ฐ๐ผ๐บ๐บ๐ถ๐๐๐ถ๐ผ๐ป ๐ผ๐ณ ๐ฌ.๐ฎ๐ฑ% ๐ฎ๐ป๐ฑ ๐๐ต๐ฒ ๐ฆ๐ง๐ฅ๐๐ง๐ ๐ณ๐ฒ๐ฒ ๐ผ๐ณ ๐ฌ.๐ฌ๐ณ๐ต๐ฑ%.
โโโ-
SARS takes a cut on the purchase of the stock (as described above) and then again on the sale of the stock.
Not only that, you are investing post tax money and then you get taxed again on any gains youโve made once you sell.