IRAS (income tax)

[tokrot]

Hi Guys,

Got a few questions. Anyone here with stock purchase (dividends) with your current company? Does your so called "gain/profits" which u have yet to sell yet reflected in your IRAS form? I am furious to find that in fact I am making a loss now when the company shares fell. However, the shares which I bought and was holding last year was profit till beginning this year. It was reported as "gains" when the shares peak during their so call "cut off period" (probably till up to 30 dec) ;(. My question is how come it be report as "gain" when in fact I am making no profit over the shares which I have yet to sell now? Moreover, I am incurring a loss so that doesn't mean the IRAS is gonna rebate me later on either. Isn't that ridiculous? :thumbsd: :angry:

 

[ericp]

Are you talking about dividends ? If so, you already have the $$$, and of course that should be taxed.

If you're talking about gains from a stock plan, the gains would reflect the company's contribution (eg. stock is at $1, you pay $0.75, so you gain $0.25 from the company if you had sold them right away). Whether the stock rose or fell is irrelevant, I feel.

What if the stock had gone to $100 ? Would you rather pay tax on $99.25 ?

Just my $0.02, pardon me if I've misinterpreted your dilemma.