Tweet
Hi There,
I was part of my company's BEE scheme in which they sold shares to black employees, they sold shares to our BEE trust in 2009, inorder to attain BEE status. then in F2017 the shares was sold to a black investment firm, the participants got paid out on feb 2017. when I received my IRP5 they put it under code 3907.
we had the shares longer than 5 years shouldn't it be treated as capital gains? and do I qualify for the R50,000 exemption for BEE shares? how must the income be treated.
I was part of my company's BEE scheme in which they sold shares to black employees, they sold shares to our BEE trust in 2009, inorder to attain BEE status. then in F2017 the shares was sold to a black investment firm, the participants got paid out on feb 2017. when I received my IRP5 they put it under code 3907.
we had the shares longer than 5 years shouldn't it be treated as capital gains? and do I qualify for the R50,000 exemption for BEE shares? how must the income be treated.