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Taxation on stock options

  • 07-07-2011 3:15pm
    #1
    fjon
    Registered Users, Registered Users 2 Posts: 2,088 ✭✭✭


    I was wondering if someone could help out with this.

    When I started in my company I was given (free) some shares worth $6 each.
    I have now sold these at $20 each.

    Let's say I had 100 shares, they were worth $600 initially, and are $2,000 now, so my profit is $1,400.

    Looking at the sale on my broker's page, I see it says "Estimated Net Proceeds: $1,400", so it has already deducted the $600 they were initially worth. I presume I'll get a cheque for $1400, and not $2000.

    Now, if that's all correct, am I right in saying I need to pay 41% tax on the $1400, i.e. $574? I believe I need to fill out an RTSO1 form, and will then also need to fill out a tax return in October.


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    sorry.

    no freebies.

    contact the person who administers the scheme- they are generally au fait with your tax obligations


This discussion has been closed.
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