I am a pensioner over 65 and receive a pension from a living Annuity and a small income from interest (plus minus R5000 interest per annum). In March 2012 I sold shares that I received from Old Mutual and Sanlam many years ago. What are my tax implications and must I include this in my return?
Whomever you sold the shares through should issue you with an IT3c showing the sale and the profits made and should indicate the tax purposes. Effectively though you would pay capital gains tax on the difference between the price on the day you sold the shares and the price on 1 October 2001. This would be included under the Capital Gains section on your income tax return. I would advise to first speak to the company who facilitated the sale of the shares to receive an IT3c certificate.
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