One can imagine the Income Tax Act 2007 looking in the mirror on the morning of 1 January and saying to itself: “You need to loose some weight buddy”. Or the IR 3 trying to squeeze into its envelope and feeling as if it’s bursting at the seams. Alas, just like with everyone else, neither the Tax Act nor the IR 3 is likely to keep to their New Year’s Resolutions.
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Paying with equity – an illustration of the importance of form
Consider, if you will, the tax treatment of two simple transactions.
Under the first transaction, an employing company pays a salary which the employee uses to purchase shares in the company. In the second transaction the employer company simply issues shares to an employee in compensation for his services. Read more
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