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Tax payable on sale of shares

Posted 23 February 2016 under Tax Questions


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Perry says:
23 February 2016 at 15:11

I am a pensioner 71 years of age. If I sell shares in a company to the value of R33,000.00 and my annual income is R120,000 what % tax would I have to pay on the R33,000?

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TaxTimTaxTim says:
23 February 2016 at 15:27

What did those shares cost you?


Perry says:
23 February 2016 at 21:02

It was given to me when I retired 16 years ago by the company I worked for


TaxTimTaxTim says:
23 February 2016 at 23:03

You would need to take off the cost of the shares at the time or what you paid for it. If that was R0 then the R33 000 would have R30 000 deducted as the tax free portion with the remainder being multiplied by a third which to get the inclusion in your taxable income so in this case R1 000 would be added to R120 000. Thereafter please make use of our SARS income tax calculator to work out what tax you would pay.


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