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Refund on tax paid for shares payout

Posted 23 October 2015 under Tax Questions


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Ann says:
21 October 2015 at 9:52

Hi,
I was employed by Woolworths and we belonged to a share scheme where we had to stay in the companies employment for 5 to 8 years in order to qualify for the payout. All payouts were taxed. I am now unemployed. Do I have to submit a tax return for the shares payout that we received? Does SARS refund you the tax that you paid on that payout?

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TaxTimTaxTim says:
22 October 2015 at 6:40

When you were paid or when the shares became entitled to be sold you would have been taxed and this would have appeared on your IRP5, did you subsequently sell the shares?


Ann says:
22 October 2015 at 11:58

Yes, I sold all my shares.


TaxTimTaxTim says:
23 October 2015 at 7:37

You need to pay capital gains tax on the difference between the amount you sold the shares for and the amount that the shares were worth when they vested.


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