hey....just a quick check, this is not in in relation to stashaway app right? I tot initially the app allows to see all such transactions haha

Lol, good one

It is SA buy order screen on 30% risk assessment

Yes this is the buy order page from the transaction page

I'm on 22%, not 30% haha

Currently Malaysia had no capital gain tax. If actively trading, the gain may subject to income tax

For me opinion, better buy and hold 3 to 5 years. Those active trader hopefully do proper record and report the income into their personal tax, nowadays income tax penalty not cheap.

This post has been edited by tsutsugami86: Feb 24 2021, 09:45 AM

Why is the income from active trade subject to income tax? Is that not capital gains?

try this recent postings .....hope it helps

Full Time Stock Trader - Tax info, Advise from a tax lawyer friend
https://forum.lowyat.net/index.php?showtopic=5102221&hl=

the best time to start is always 20 years ago.

the next best time to start is now.

Just keep calm and DCA over the next few years.
Setup a plan and stick by it, you will thank yourself in years to come.

cos it is so convenient and accessible with just a fingerprint to see your holdings and the performance

because the US market is at all time high now.

so now the market is heading for a correction, which leads to some drop and hence the sales.

so many here say is a good time to invest more, well, this is not wrong at all.

the idea of having a DCA plan is also partly to ignore all the noises from the market, just keep calm and keep DCA-ing and stick with your plan.

forget about the investment that you have put in, visit after 3 years, you should see your money grow.

but the problem is the convenience we're getting now, just a fingertip and we can access to it.

Thanks for the advise

(stuff below is something I've gleaned from recent article about cryto trading, but it might be relevant here and to those who engage in day trading)

Section 3 of Income Tax Act 1967 says that income from digital platforms like online trading can be taxed. To determine this tax authorities will look to see if the investor meets the criteria of "Badges of Trade" test. Meet too many and your gains from investments might be considered taxable income

Profit-seeking motive: Was the activity carried out with an intent to profit?

Number of transactions: repeated and systematic transactions of buying+selling that can amount to trading activity

Nature of Asset: type, quantity of assets etc.

Existence of similar trading transactions or interests: refers to similarities between your expertise and your occupation with the activity of trading

Changes to the asset: changes to price etc. that makes it marketable?

The way the sale was carried out: is the sale conducted in a way that befits a trading organisation?

Source of finance: Assets purchased using debt/loaned money gets a red flag because you're required to pay off the loan, so profit becomes a necessity (profit seeking motive).

Interval of time between purchase and sale: The longer time between your buying and your selling, more likely it'll be seen as investment (not taxable) instead of trading (taxable)

Method of acquisition: Gifts and inheritance aren't considered trade.

Due to Covid-19, Government had given a lot of money to help public. They need to get back some money, since the income tax rate had not increased, what else they can get money - do a lot tax audit to charge the tax under declared & penalty.

Thank you very much for your response

I happen to be venturing into SA for the first time this week...so I'm like, aiks, what's all these noises...did I just do something wrong at the wrong time again @_@

And also, it's odd that funds have been transferred, but allocations to the funds have been made yet as I see it's still showing Cash (100%)...is this normal?

Yeah. They are ramping up the tax audits.

Yes it will take time. First the they will have to convert your money to USD, which is what you see now parked in cash. Then they have to execute the buy order, which will take place when the market opens in the US. So most of the time usually you can see money already in but no holdings yet in the morning, then the following day can see the execution of the buy order and your cash will be deducted. I believe the ETFs have no liquidity issues, so almost 100% of the time it will buy the ETFs once US markets are open.

Is it adviseable to have to 36% profiles? I started with a 22% profile then another profile of 36% about 6 months after. I was wondering if I should leave it as 22% and 36% or convert the 22% to 36% too...

Thanks for validating my concern, I thought so too...maybe today is the borderline...I'll give it till tomorrow considering the funds have came in on Mon.

I'm not into timing the market with SA, but a bit nervous since it's the first time into doing this...hope all goes well entering into the funds this week.

I am at 30% RI but my KWEB only 10% is it because i never turn on Re-optimization? should i turn it on? My GLD is like 18.9%

That's rebalancing not reoptimisation/update. Last update was May 2020.

Just keep depositing money to rebalance GLD back to 20%