Quote Originally Posted by Dave A View Post
So essentially you capitalised unpaid salary - which means you would have paid income tax on that salary income (if applicable).

I can't see SARS getting excited about you declaring a nil capital gain unless you did a whole bundle of such transactions.
I didn't pay income tax on it, should I have, I can't afford the income tax on that because I never took the cash.

I'm not making any gains on the sale of the company, I'm selling it for the value I put in ... i.e. that 300,000