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Capital Gains Tax on EQUITIES
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mlennyma
#11 Posted : Thursday, November 13, 2014 12:07:49 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
I think dividend payment is done withholding the tax applicable it can't be double taxation
"Don't let the fear of losing be greater than the excitement of winning."
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ProverB
#12 Posted : Friday, November 14, 2014 12:46:32 PM
Rank: Veteran

Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
One thing is highly probable.. Once the CGTax goes into effect, 15thJanuary as per PKF advisory, it will wipe out supply from market as investors, in fear of losing their capital gains to tax charges, and the uncertainty around the cgt administration, choose to hold on longer.

Subsequent Demand vs the almost no-Supply issues will usher in some sort of price run

2015 will be a good year as everyone gets forced into bein some sort of long term investor. Short term traders will be forced to quote higher prices while at the same time factoring in tax charges on their sale quotes.
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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  | | Edit by user: Friday, November 14, 2014 12:56 PM | Reason: Not specified
mv_ufanisi
#13 Posted : Friday, November 14, 2014 2:25:11 PM
Rank: Member

Joined: 1/15/2010
Posts: 625
ProverB wrote:
Just found out from Nikhil Hira that CGT will be on gains accrued over and above cost of acquisition. ..no matter when you acquired them.
They will not rebase to 1st Jan 2015. And on that note.. Time to protect
gains by cashing in. Sad


So basically people should cash out then get back into their positions. It doesn't make much sense. But I think I will stay put and pay that 5% if it comes to that. I think we make money too easily on this NSE and the taxes should definitely be higher than they are. Low taxes in stock markets are one of the big causes of inequality. The guys at the bottom earning say 20k a month get taxed higher for their hard earned cash than the lot of speculators. The 20k should be getting off tax free and the speculators paying casino like taxes.
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The optimist
#14 Posted : Monday, November 17, 2014 4:31:47 PM
Rank: Member

Joined: 6/14/2010
Posts: 521
Location: Nairobi
They have advertised on dailies today. 1st Jan is the date
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mawinder
#15 Posted : Monday, November 17, 2014 5:21:58 PM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
Does it affect me who bought KCB at Kshs 28 pre bonus days???????????
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hisah
#16 Posted : Monday, November 17, 2014 6:58:25 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
After looking at this CGT curveball I'm beginning to see the opposite of the crowd. If I'm reading it right gok will need the market to meltup so that they can take their loot. If so, the meltup will be sizable! Some listings/IPO will definitely be fantastic...

Watch mpesa bank. This is where it's likely to begin...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Monday, November 17, 2014 6:59 PM | Reason: Not specified
Impunity
#17 Posted : Wednesday, November 26, 2014 1:27:36 AM
Rank: Elder

Joined: 3/2/2009
Posts: 26,333
Location: Masada
How will this CGT affect proti?
What will happen to transfers made after 31-Dec-2015?
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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tkzee
#18 Posted : Wednesday, November 26, 2014 12:19:56 PM
Rank: Member

Joined: 7/13/2010
Posts: 160
Location: rift Valley-Naks
How is capital gains going to be computed for someone who inherited shares? Considering that at some point these shares were inform of certificates before being immobilized.
''i can calculate the motion of heavenly bodies,but not the madness of people''-Isaac Newton
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Ali Baba
#19 Posted : Wednesday, November 26, 2014 2:59:26 PM
Rank: Member

Joined: 8/29/2008
Posts: 573
tkzee wrote:
How is capital gains going to be computed for someone who inherited shares? Considering that at some point these shares were inform of certificates before being immobilized.
Kazee,form a limited liability company and transfer or sell your shares to your company before january first....
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urstill1
#20 Posted : Wednesday, November 26, 2014 3:03:03 PM
Rank: User

Joined: 9/6/2013
Posts: 1,446
Location: In a house
Ali Baba wrote:
tkzee wrote:
How is capital gains going to be computed for someone who inherited shares? Considering that at some point these shares were inform of certificates before being immobilized.
Kazee,form a limited liability company and transfer or sell your shares to your company before january first....



I'm interested though the whole process might spill over to January and possibly beyond. If that is done, does it mean that I'll never pay the 5% tax on CG?
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