19 September 2019 at 12:46
I received a once-off payment for shares in November 2018. I then opted to pay tax on the shares before the payments was made to me. Therefore the tax was already deducted before any monies were paid to me. I am now uncertain how to enter this in my 2019 tax return. Can you please advise %u2013 do I need to submit this income in my 2019 tax return and if I must, what figures must I submit in terms of the share payment made to me in this tax year?
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19 September 2019 at 12:53
Indeed you need to declare all your income, including the share payment you received in November 2018. You need to make contact with the employer / fund that made the payment to you and request the IRP5 for this share disposal. The IRP5 certificate will reflect the share proceeds as well as the tax you paid. This information should already be pre-populated in the IRP5 section of your tax return. If it is not there, you must enter it in manually and request your employer to submit the IRP5 to SARS.